All Share Index Close in the Red as Equities Revert their Varied Performance
Equities reverted to their varied performance seen in the past one week with the All-Share Index closing in the loss territory in the session on Wednesday.
The NSE 20 and NSE25 closed in the green on lower turnover compared to the previous session according to insights from Genghis Capital.
Safaricom Plc (NSE: SCOM) was the top mover for the day, dealing 8.9 million shares to close 0.84 percent lower.
In the top movers’ list, analysts at Genghis saw local investors move about 70 percent of trades in both Equity Group Holdings Plc (NSE: EQTY) and Centum Investment Plc (NSE: ICDC) with both counters closing unchanged in price in the session.
The top five movers for the day collectively accounted for 93 percent of the total market activity.
Foreign investor activity came off 17.4 percent to account for 51.42 percent of total market activity with trading inclined towards Safaricom Plc (NSE: SCOM) which accounted for 60.62 percent of foreign trades.
The counter persisted net selling activity in the session as has been the trend the past three sessions with investors taking profits on the Telco.
The foreign desk was also selling off Equity Group Holdings Plc (NSE: EQTY) and KCB Group Ltd (NSE: KCB) while buying into Centum Investments Plc (NSE: ICDC) and KenGen Ltd (NSE: KEGN).
On the overall, foreign investors were net sellers in the session, similar to Tuesday’s session. The bond turnover retreated to 2.07 billion shillings from 3.96 billion shillings on 81 deals compared to 67 deals in the previous session.
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