Market Closes Lower As Turnover Slumps, Local Investors Dominate Trading

The Nairobi Securities Exchange closed Tuesday’s session in negative territory, with all major indices posting declines. The NASI slid by 0.7%, while the NSE 20 retreated by 0.5%. The NSE 25 and NSE 10 were not spared either, each easing by 0.4% as broad-based pressure weighed on the market.

Trading activity slowed sharply, with equity turnover dropping 46.8% to USD 2.2 million. Local investors remained firmly in control, accounting for 84.3% of total trades—an uptick from 63.6% recorded the previous day.

Equity Group was the day’s most active counter, contributing 36.6% of turnover. Its share price softened by 0.4% to KES 62.75, driven largely by local selling. KCB Group and Safaricom also closed lower, shedding 1.3% and 1.7% to KES 58.00 and KES 28.50, respectively, with Safaricom emerging as the session’s worst-performing blue chip.

On the gainers’ board, Co-operative Bank climbed 2.7% to KES 22.45, buoyed by increased foreign interest. EABL maintained price stability at KES 220.00, supported by foreign purchases. Uchumi Supermarkets led the day’s advances, surging 9.9% to KES 1.22, while Eveready posted the steepest decline, slipping 6.7% to KES 1.26.

Foreign investor sentiment improved, registering net inflows of USD 165,600. The ABSA Gold ETF attracted the most selling from offshore accounts, while EABL remained the preferred pick among foreign buyers.

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