EQUITY MARKET COMMENTARY
The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 up by 1.3%w/w, 3.0%w/w, 1.8%w/w, and 2.9%w/w, respectively.
Market activity edged upwards to USD 18.52m (+30.9%w/w). Safaricom dominated market activity, accounting for 36.7% of the week’s turnover, with its price function advancing by 1.6%w/w to close at KES 18.90.
Of the top-traded banking stocks, KCB Group rose 6.6%w/w to KES 45.80. On the other hand, HF Group and Stanbic declined by 9.6%w/w and 1.6%w/w to KES 8.12 and KES 138.00, respectively.
EABL rose by 7.2%w/w to KES 193.25 – with its 1H25 results expected on Friday this week.
Trans-Century emerged as the week’s top gainer following its 1H24 results release during the week. Notably, the business turned profitable with net profits of KES 375.10m compared to a loss position of KES 1.67bn in a similar period the previous year.
Foreign investors turned bearish with net outflows of USD 212.01k. Safaricom led the buying charge while KCB Group led the selling charge for the second consecutive week. Foreign investor participation edged downward to 45.0% from 58.8% in the prior week.
Expected in the week: 31st January 2025 – January 2025 Inflation numbers, EABL 1H25 financial results.
