Equities close in the Red as the week comes to an end

Equities closed the week in the red with all major indicators losing ground in the session.

Turnover came off by over half of the previous day’s traded value at 722.21 million shillings.

Activity was mainly in ARM Cement Plc, Safaricom Plc, Equity Group Holdings Plc, Bamburi Cement Ltd and KCB Group Ltd.

Notably, ARM accounted for 25.1 percent of the total market turnover, being the day’s top mover owing to a local fund sale and a foreign broker buy.

The top five counters exuded both local and foreign client activity on both ends of the trades.

Foreign investor activity ticked up to close at 44.39 percent of total market activity from 25.58 percent recorded previously.

Activity from this desk was mostly in SCOM, ARM Cement Ltd (NSE: ARM), Equity Group Holdings Plc (NSE: EQTY) East African Breweries Ltd (NSE: EABL) and Diamond Trust Bank of Kenya Ltd (NSE: DTK).

The desk bought into ARM, Equity, Centum, EABL, and DTK. Foreign investors were sellers on Safaricom, Kenol, Bamburi, KenGen, and NSE. On overall, the desk recorded net foreign inflows in the session compared to the last two sessions of net selling activity.

Bonds turnover retreated to 1.55 billion shillings on 48 deals from 2.38 billion shillings on 66 deals in the previous session.