Equities Rebound on Tuesday after Meager Performance on Monday

Equities recorded improved performance in Tuesday’s session as all major indicators closed on a high following a poor performance in the previous session.

Turnover was up 181.4 percent to 1.03 billion shillings driven by increased foreign investor activity which was nearly balanced between buying and selling.

Safaricom Plc (NSE: SCOM) maintained the top mover position albeit closing the session unchanged in price, similar to Monday’s session.

The top five accounted for 92.6 percent of total market turnover compared to 84.8 percent in the previous session.

Foreign investors continued to dominate activity in the market, accounting for 86.3 percent of total activity, up from 71.2 percent recorded previously.

Similar to the previous sessions, activity inclined towards Safaricom Plc (NSE: SCOM) which accounted for 54.9 percent of the desk’s activity, exuding net selling sentiment following three sessions of net buying activity.

The Telco recorded the day’s highest net foreign outflows of 63.31 million shillings. Buying activity was on KCB Group Plc (NSE: KCB) which recorded the session’s highest net inflows. On the overall, foreigners were sellers after portraying net buying activity in the previous session.

Bond turnover retreated to 1.33 billion shillings (-70.2%) from 4.45 billion shillings on 38 deals compared to 45 deals in the previous session.