Market Wrap At The NSE: Mixed Performance as Turnover Declines

Indices

The equities market closed on a mixed note, with the Nairobi All Share Index (NASI) slipping 0.2%, while the NSE 20 edged up 0.3%. Meanwhile, the NSE 10 and NSE 25 remained largely stable, showing minimal movement.

Turnover

Equity turnover dropped significantly to USD 1.8 million, marking a 63.7% decline from the previous session. Local investors continued to drive market activity, contributing 66.7% of the day’s turnover, though lower than yesterday’s 91.9%.

Top Movers & Performers

BAT Kenya emerged as the most traded stock, commanding 24.4% of total market activity. The stock climbed 2.2% to close at KES 380.00, driven by foreign profit-taking.

In the banking sector, Equity Group and DTB gained 0.5% and 1.3%, closing at KES 48.70 and KES 78.00, respectively, while ABSA eased 0.5% to KES 19.00. Safaricom was the session’s worst-performing top mover, retreating 0.8% to KES 17.95.

Express led the day’s gainers, soaring 8.9% to KES 4.03, while Flame Tree was the biggest laggard, sliding 5.5% to KES 1.20.

Foreign Investor Flows

Foreign investors maintained a bearish stance, recording net outflows of USD 973.8k. Kenya Power attracted the most foreign buying, while BAT Kenya saw the highest selling pressure.

Read Also: Inflation Inches Up to 3.5% in February As Food and Utility Costs Rise Up Significantly