EQUITY MARKET COMMENTARY
The market closed the week on a bullish note, with the NASI, N10, NSE 20 and NSE 25 gaining 1.3% w/w, 0.5% w/w,0.8% w/w and 0.3% w/w, respectively.
Market activity rose to USD 16.0m (+5.2% w/w). KCB Group dominated market activity accounting for 38.7% of the week’s turnover. The counter’s price function dipped by 2.8% w/w to KES 43.95 to close as the week’s worst-performing mover.
Equity Group’s price function eased by 1.4% w/w to KES 47.00, whereas EABL tapered by 1.9% w/w to KES 183.75. On the other hand, Absa rose by 2.4% w/w to KES 18.95.
Safaricom advanced by 3.9% w/w to KES 18.80, emerging as the week’s best-performing mover. Notably, Uchumi surged 10.0% w/w to KES 0.33, buoyed by speculation around the firm’s interim liquidator announcement of a creditor’s meeting on 17th March 2025.
Foreign investors turned bullish, with net inflows of USD 669.6k. KCB Group led the buying charge while Equity Group led the selling charge for the second week. Foreign investor participation declined to 29.7% from 59.5% in the prior week.
Expected in the week: 28th February 2025 – February 2025 inflation numbers, KPLC’s KES 0.20 interim dividend book closure.
