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BAT Gains 1.9% To Close At A 21-Week High Inbox On Monday

BY Standard Investment Bank · January 8, 2024 10:01 pm

Indices

The market closed the session in the green for the fourth consecutive session with the NASI, N10, NSE 20, and NSE 25 gaining 0.8%, 0.6%, 0.2%, and 0.5%, respectively.

Turnover

Equity turnover edged downwards to USD 0.3m (-65.8%) with local investors dominating market activity, accounting for 56.4% of the day’s turnover up from 18.5% in the prior session.

Read Also: How To Get A Stock Loan Of Up To Ksh 6 Million From NCBA

Counters

KCB Group was the top-traded stock, accounting for 41.8% of the day’s activity. The counter however extended its price slide to the third session shedding 0.4% to close at KES 22.45.

Equity Group extended its rally to the fifth session gaining 0.3% to KES 35.75 – a three-week high – on local demand. Likewise, Co-op Bank extended its winning streak to the third session on a 0.9% gain to KES 11.35 while ABSA remained unchanged at KES 11.65.

Safaricom was the day’s best-performing top mover on a 1.8% rally to KES 13.85. The rally comes on the back of a three-session price slide before the counter gravitated to a position of relative stability in the previous session.

BOC was the day’s surprise top mover on a KES 2.7m turnover print. The counter however remained unchanged for the ninth session at KES 82.00.

Read Also: Safaricom PLC: The Pulse Of the Kenyan Economy And The Ideal Stock For Retail Investors

BAT gained 1.9% to close the day at KES 436.75 – the highest since 11th August 2023.

Longhorn was the day’s top gainer on a 9.2% rally to KES 2.37 while Eaagads shed 7.9% to KES 12.85 – closing the day as the leading laggard.

Foreign net flows

Foreign investors turned net sellers with net outflows of USD 32.4K. Equity Group led the selling charge while KCB Group led the buying charge.

Read Also: Safaricom Top-Traded Stock, Accounting For 55.2% On Friday

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