The Markets: I&M Closed The Session Thursday At A 20-Week Low

The market closed the day in the green with the N10, NSE 20, and NSE 25 rising by 0.6%, 0.1%, and 0.3%, respectively. The NASI remained largely unchanged in the session.

Equity turnover edged downwards to USD 1.3m (-8.5%). Local investors dominated market activity, accounting for 63.3% of the turnover levels, down from 69.8% yesterday.

Safaricom dominated market activity, accounting for 49.3% of the day’s turnover. The counter’s price function eased by 0.3% to KES 17.35.

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Of the top traded banking stocks, KCB Group, Equity Group, and StanChat retreated by 2.2%, 0.1%, and 0.2% to KES 38.50, KES 45.65, and KES 300.00, respectively. Co-op Bank gravitated to a position of relative stability, remaining largely unchanged.

Kenya Power, the session’s best-performing top mover, rose by 3.0% to KES 6.22. Longhorn was the day’s top gainer, up 4.2% to close at KES 2.95. Car and General shed 9.0% to KES 19.80, closing as the leading laggard.

I&M Group eased by 1.5% to KES 29.55 – closing the session at a 20-week low.

Foreign investors remained bearish, with net outflows of USD 259.0k. Kenya Power led the buying charge while KCB Group led the selling charge.

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