BAT At A One-Month Low As December Races On

Indices

The benchmark indices maintained their upturn for the second consecutive session, except for the N10 which eased 0.2% on the price drop of NCBA and Kenya Re.

The NSE 20, and NSE 25 were up 0.3% and 0.1% respectively while the NASI remained largely unchanged.

Turnover

Equity turnover edged 8.9% lower to USD 0.7m as local investor participation dropped to 38.0% vis-à-vis 53.3% in yesterday’s session.

Counters

Safaricom and KCB were the day’s top movers, jointly accounting for 72.8% of market activity, though remained unchanged at KES 14.55 and KES 19.30 respectively.

Equity Group and I&M closed in the green for the second straight session, ticking up 0.4% to KES 37.90 and 0.3% to KES 17.50 respectively on increased local demand.

Bamburi sustained its seven-session rally, gaining 2.9% to KES 41.35 on bullish local sentiments.

Conversely, Co-op Bank retreated 0.9% to KES 11.10 on local trading.

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Williamson Tea and Kapchorua dipped 5.2% and 2.7% respectively as the counters began to trade ex-dividend.

BAT investors were out of the money as the counter sustained its mini-bear run, down 0.4% to a four-week low of KES 403.50.

Home Afrika was the top loser in the session, down 6.9% while BOC was the top performer, on a 9.7% leap to an eight-week high of KES 84.50, both on thin volumes.

Foreign net flows

Foreign investors remained bearish, recording net outflows of USD 0.1m. Equity Group led the selling charge while StanChart led the buying charge.

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