Turnover in Thursday’s session came off slightly to 2.6 billion shillings with trades mostly on the medium-term papers.
“We are seeing demand in the short-term papers and the infrastructure bonds,” said market analysts from Genghis Capital.
The average inter-bank rate dropped to 2.26 percent from 4 percent previously, signaling increased liquidity in the market with CBK opting to stay out of the market.
T-bills performed rather well with the CBK receiving bids worth 67 billion shillings and accepting 48 billion shillings which are double of the amount issued, 24 billion shillings with a slight drop on all of the three rates.
The shilling closed at 101.85 holding steady from Wednesday’s trading.
Activity in the previous session saw an increase in turnover from Wednesday’s session as all indices closed in the green.
Foreign investors continue to be dominant in the market which is expected to hold with trading in the main index counters.
Safaricom is expected to trade higher in the session after yesterday’s gains amid some selling interest in the counter or investors taking profits. Additionally, “we anticipate the market to continue the current steady albeit slow uptrend that has been the case for the past week.”