Equities turnover increased by 259.1 percent during the third week of August to USD 25.8 million, from USD 7.2 million the previous week.
This turnover consequently took the Year-To-Date (YTD) turnover to USD 915.8 million.
The equities market, overall, recorded mixed performance. NASI and NSE 25 gained 2.3 percent and 0.7 percent, respectively.
On the other hand, NSE 20 declined by 0.1 percent, taking their YTD performance to gains/losses of 7.7 percent, (10.4 percent) and 1.3 percent, for NASI, NSE 20 and NSE 25, respectively.
The performance in NASI was driven by gains in Diamond Trust Bank and Safaricom, which gained 6.3 percent and 6.1 percent, respectively.
The gains were however weighed down by declines in Equity Group, NIC Group, EABL and Co-operative Bank, which declined by 3.2 percent, 2.8 percent, 2.2 percent, and 1.7 percent, respectively.
Foreign investors remained net buyers for the week, with a net buying position of USD 0.02 million, from a net selling position of USD 1.8 million the previous week.
The market is currently trading at a price to earnings ratio (P/E) of 11.3x, 15.0 percent below the historical average of 13.3x, and a dividend yield of 5.3 percent, 1.5 percent points above the historical average of 3.8 percent.
With the market trading at valuations below the historical average, analysts from Cytonn Investments believe there is value in the market.
The current P/E valuation of 11.3x is 16.5 percent above the most recent trough valuation of 9.7x experienced in the first week of February 2017, and 36.1 percent above the previous trough valuation of 8.3x experienced in December 2011.