Major Indices Dip During Monday’s Session

All major market indices started the week on a low, trending south in Monday’s session.

East African Breweries Ltd (NSE: EABL) was the top mover, accounting for 29.1 percent of total market activity driven by foreign interest exiting the counter.

As expected, activity was also in Equity Group Holdings Plc (NSE: EQTY), Safaricom Plc (NSE: SCOM) and KCB Group Plc (NSE: KCB).

The counters collectively accounted for 44.8 percent of total NSE activity. Also on the list, was KenGen Co Ltd (NSE: KEGN) which exuded both local and foreign activity with the latter hanging onto the sell-side.

“We noted increased local activity in the session, pushing most volumes in the banking sector counters,” said analysts from Genghis Capital.

Foreign Investors controlled 48 percent of total market activity, down from 61.3 percent in the previous session. The desk’s activity was mainly on EABL, SCOM, and EQTY.

Net buying activity was still on EQTY while net sales were on SCOM, EABL, and KenGen. On the overall, foreign investors were net sellers for the second consecutive session.