Activity rose during the Thursday’s trading session to close at 3 billion shillings driven by trading across the curve.
Market analysts at Genghis Capital expect turnover to keep up as local fund managers are set to close the quarter on Friday.
The shilling stabilized on Thursday to close at 100.9 against USD while the KES overnight rate continued to rise closing at 5.7 percent.
The Central Bank of Kenya (CBK) intervened, citing a skewed market and offered 10 billion shillings in liquidity.
Market analysts expect the reopened 10-year paper to settle at previous levels around 12.40 percent and the 20-year at 12.70 percent.
Foreign investor participation retreated to 59.2 percent during the trading session on Thursday with a total market turnover from 78.7 percent recorded previously.
Activity was mostly on Safaricom, Equity, KCB, Bamburi, and Centum. Net buying activity was mostly on Cooperative Bank, NIC Group Plc, HFCK, KenGen, and Stanbic Group while net selling activity was on Safaricom, KCB, Bamburi, Equity Group Plc and Centum.
Foreign investors remained net sellers in the trading session, persisting the previous week’s trend.
During the Friday’s session, market analysts expect to see a similar trend to what has been in the past 10 sessions with most activity in Safaricom and the banking sector counters.
In Safaricom, analysts say investors might see the price trade higher due to demand pressure on the counter while Equity and KCB might see prices oscillate around 40.25 shillings and 40.50 shillings respectively.
Foreign investors are also expected to continue dominating the market as locals stay out as they enter into the 3Q18 reporting period.