NSE Witnesses Increased Turnover as Foreign Investors Take Charge

The trading session on Wednesday at the Nairobi Securities Exchange was characterized by increased turnover.

There was improved activity in Safaricom which accounted for 40 percent of the market activity.

Equity and KCB were still among the top traded counters, closing higher at price albeit sustained selling of KCB by foreign investors.

Local investors increased participation in today’s session to 25 percent from 15 percent recorded previously.

Notably, British American Tobacco Kenya Ltd (NSE: BAT) moved shares worth KES 106.3 million shillings, ranking 3rd in the top five traded counters for the day.

Foreign investors persisted dominance of the equities’ market albeit at a lower rate than the previous session (75.06 percent of total market activity vs. 84.03 percent recorded previously).

Majority of this interest was seen in Safaricom, Equity, EABL, BAT, and KCB. The desk was bullish on Safaricom, Kenol and Co-operative Bank while selling off the BAT, EABL, and KCB.

Foreign investors have been taking profits on KCB for the past three sessions. On the overall, the foreign desk exuded net selling activity, breaking a four-session net buying trend.