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Daily Summary

Ref No20100510

Date MONDAY 10TH MAY 2010

Equities

The Bourse opened the week with a total of 14M shares valued at KSh.244M, down from KSh.453M on a hefty tally of 56M shares posted last Friday. 

The NSE 20 Share Index shed 40.27 points to close at 4237.35 while the NASI shed 1.07 points to settle at 90.11. Foreign investor demand remained strong at 39% of total turnover while selling declined to 6.55% of turnover as while local investors remained dominant with 54% which has been the case for the last 7 weeks. As European markets begin to gain from the Greek bailout we expect heightened foreign activity which will further boost the recent market rally to new highs. KenolKobil stocks took a beating losing 9.22% to close at KShs 93.50 following the negative ruling regarding the compensation case against Kenya Pipeline as investors expect the ruling to have adverse effects on the company’s bottom line. Foreign interest remained largely concentrated in blue chips i.e. Safaricom, EABL and BBK although there was heavy exit from KCB pushing the stock down 6.74% to close the day at KShs 20.75.

Bonds

Like the equities market bonds turnover was down 47% as the week got off to a slow start with bonds totaling to KSh.1.22bn transacted. Trading continued to be concentrated in longer term papers (5Yrs and above) while only the KenGen Infrastructure bond traded on the corporate bonds front.





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