Foreign Investors Take up Lion’s Share on Thursday’s Session at NSE

Foreign investors took up the lion’s share during the Thursday’s trading session at the Nairobi Securities Exchange (NSE).

Foreign investor activity picked up to 55.22 percent of total market activity, dominating the session as compared to the locals.

By the close of business, most activities were seen in Safaricom, Bamburi, Equity and Kenol, similar to the previous session.

Bamburi recorded the desk’s highest net outflows while Centum Investments Plc (NSE: ICDC) moved a trade characterized by a foreign buy and a local sell to log the desk’s highest net inflows.

On the overall, the foreign investors were net sellers in the session, for the eighth consecutive session.

Equities negated previous losses to record gains in today’s session as all major indices closed up on increased turnover.

“We noted a general price increase in the session pushing market capitalization up by 33.67 billion shillings as the advancing counters, outpaced the declining counters, 17 vs 16,” said analysts from Genghis.

Safaricom Limited was the day’s highest traded counter for the second session in a row with 31.4 percent of total turnover, reversing Wednesday’s loss position to close at 29.25 shillings per share, a 2.3 percent higher.

The top five top traded counters accounted for 80.0 percent of total market turnover attracted activity fairly from both the local and foreign desks with local investor participation coming off 16.82 percent in the session.

Bonds turnover declined in the session to 3.98 billion shillings on 60 deals compared to 4.79 billion shillings on 67 deals recorded previously.