Equity Market Summary
The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 gaining 6.9% w/w, 7.5% w/w, 8.5% w/w, and 7.6% w/w, respectively.
Market activity rose to USD 56.5m (+54.9% w/w). Equity Group dominated market activity, accounting for 21.0% of the week’s turnover. The counter’s price function surged by 12.9% w/w to KES 76.75 – an all-time high.
Likewise, KCB Group advanced by 11.9% w/w to an all-time high of KES 75.25. I&M Group inched upwards by 10.8% w/w to KES 49.85 while NCBA dwindled by 2.7% w/w to KES 89.75.
Safaricom rose by 6.1% w/w to KES 33.95.
Sasini was the week’s top gainer, rallying by 53.6% w/w to 30.95. Conversely, NCBA Bank was the week’s leading laggard, down 2.7% w/w to KES 89.75.
Foreign investors were profit-taking, with net outflows of USD 4.5m. Equity Group led the buying charge, while Safaricom led the selling charge. Foreign investor activity softened to 26.6% from 27.4% in the prior week.
