EQUITY MARKET COMMENTARY
The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 advancing by 4.6% w/w, 4.1% w/w, 5.3% w/w, and 4.0% w/w, respectively.
Market activity eased to USD 12.86m (-32.6% w/w). Safaricom dominated market activity, accounting for 31.9% of the week’s turnover. The counter’s price function strengthened by 4.2% w/w to KES 24.95.
Among the power sector stocks, Kenya Power and KenGen surged 31.6% w/w and 23.5% w/w to KES 11.40 and KES 6.84, respectively. The former emerged as the week’s best-performing top mover, having touched a 7.5-year high.
KCB Group and Equity Group rose by 6.7% w/w and 5.9% w/w to KES 46.50 and KES 48.85, respectively.
Umeme closed as the week’s best-performing stock, up 54.4% w/w to KES 19.15. We portend that the counter’s price function was largely buoyed by investors pricing in its announcement of an interim dividend of UGX 222 per ordinary share (c. KES 7.99 per ordinary share).
Foreign investors were bullish, with net inflows of USD 943.4k. Safaricom led the buying charge, while Co-op Bank led the selling charge. Foreign investor participation edged downwards to 18.4% from 36.7% in the prior week.
Expected in the week: 30th June 2025 – June 2025 inflation numbers.
