A Snippet Look At The Kenyan Markets On Friday

The Indices:  All the benchmark indices closed in the green, led by the NSE 20 which gained 0.6 percent while the NASI and NSE 25 extended gains by 0.3 percent and 0.4 percent respectively.

The Turnover: Equity turnover declined 23.4 percent to USD 2.1m on reduced trading of NCBA.

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The Key Counters:

Safaricom reclaimed its top mover position, notching 0.3 percent higher to 17.50 shillings on increased foreign demand.

BK Group was a notable top mover, recouping 0.7 percent to 36.70 shillings from the prior session’s 0.8 percent slide on foreign demand.

Co-op Bank was the only top mover to drop, easing 0.4 percent to 12.30 shillings on profit-taking.

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The leading gainer in the session was Express Kenya, jumping 8.4 percent to 4.00 shillings while Unga Group was the leading loser, slumping 8.1 percent to 17.00 shillings following its FY23 profit warning, citing higher production costs (limited local supply resulting in expensive imports) as well as high forex losses due to the depreciation of the Kenya shilling.

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Foreign Net Flows

Foreign investors remained net buyers, registering net inflows of USD 0.1m. BK Group led the buying charge while Safaricom led the selling charge.

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