Equity Market Summary
The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 gaining 3.0% w/w, 4.4% w/w, 3.5% w/w, and 4.3% w/w, respectively.
Market activity rose to USD 49.6m (+10.2% w/w). Equity Group dominated market activity, accounting for 24.8% of the week’s turnover. The counter’s price function surged by 5.5% w/w to KES 77.25.
Likewise, KCB Group and Co-op Bank inched upwards by by 7.4% w/w and 0.5% w/w to KES 80.25 and KES 29.20, respectively.
Kenya Airways advanced by 8.5% w/w to KES 5.60 while Safaricom gravitated to a position of relative stability, remaining unchanged at KES 32.00.
Uchumi was the week’s top gainer, rallying by 59.2% w/w to 2.93. Conversely, Eveready was the week’s leading laggard, down 16.3% w/w to KES 1.13.
Foreign investors were profit-taking, with net outflows of USD 754.7K. KCB Group led the buying charge, while Safaricom led the selling charge. Foreign investor activity eased to 33.6% from 35.9% in the prior week.
