A Spotlight On How The Markets Performed At The NSE On Thursday

The market closed the day on Thursday on a bearish note, with the NASI and N10 shedding 1.0% and 1.1% respectively. The NSE 20 and NSE 25 remained relatively unchanged during the session.

Equity turnover surged 13.24x to close the session at USD 66.7m (+1224.1%). Local investors dominated market activity, accounting for 96.8% of the day’s turnover levels, with foreign investors accounting for 3.2%. A foreigner block trade on the I&M counter, with a turnover of KES 8.1bn.

Amongst the top movers, Equity Group accounted for 3.6% of the day’s turnover. The counter remained flat to close the session at KES 43.55.

KCB, Co-op Bank, ABSA, and Stanbic Holdings shed 3.5%, 1.8%, 1.5% and 0.5% to close at KES 36.30, KES 13.65, KES 13.45 and KES 110.50 respectively. Safaricom shed 1.6% to close the session at KES 18.05.

Read Also: The Stock Market Is Not For Everyone, Let Not Peer Pressure Lie To You

Kenya-Re led the top gainers on a 17.3% rally to KES 2.44 on the back of its FY23 results release. The Board of Directors proposed a first and final dividend of KShs.0.30 per share for the financial year ended 31st December 2023, with the counter’s book closure slated for 25th June 2024.

On the other hand, BK Group led the top losers on a 7.8% drop to KES 31.7 – closing as the day’s laggard.

Foreign investors were bullish for the third consecutive session, with net inflows of USD 2.9m. Equity Group led the buying charge in the session, while EABL led the selling charge.

Read Also: The Significance of Stock Market Education And the Impact Of Foreign Investors On The NSE