Equity Dislodges Safaricom To Trade The Most On Thursday
KEY POINTS
Equity Group emerged as the most traded counter, accounting for 49.3% of turnover. The lender maintained its rally, notching 1.2% higher to KES 43.00 on sustained foreign demand.
The benchmark indices closed higher with the exception of the market which eased by 0.2%. The NSE 20 and NSE 25 extended gains by 0.4% and 0.3% respectively. Market activity declined 67.6% to USD 0.8m on reduced trading of most large caps.
Gainers And Losers
Equity Group emerged as the most traded counter, accounting for 49.3% of turnover. The lender maintained its rally, notching 1.2% higher to KES 43.00 on sustained foreign demand.
KCB featured amongst the top gainers of the day. The lender closed in the green for the second consecutive session, gaining 2.6% to KES 29.85 as local investors bought the dip.
EABL investors could also cheer as the brewer maintained its mini rally, ticking up 1.5% to a one-month high of KES 164.25 on local demand.
Umeme was the top gainer once more, up 8.3%. The firm has recouped 30.3% from its 43.7% drop. Meanwhile, Eveready was the top loser, declining 9.4% on thin volumes.
Related Content: Safaricom Accounted For 70% Of Total Turnover On Tuesday
Foreign investors remained bullish, registering net inflows of USD 0.2m. Equity Group led the buying charge while KCB led the selling charge.
The MPC
The next CBK Monetary Policy Committee (MPC) has been rescheduled from this month to Wednesday, August 9, 2023. The MPC previously held an extraordinary meeting in late June in which the benchmark interest rates were hiked by 100bps to 10.5%.
Related Content: Centum RE Rebounds To Ksh 1 Bn Profit For Year Ended March 31
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