Equity Market Summary
The market closed the week on a bullish note with the NASI, N10, NSE 20, and NSE 25 gaining 1.8% w/w, 2.3% w/w, 1.3% w/w, and 2.1% w/w, respectively.
Market activity contracted to USD 8.2m (-20.3% w/w). Safaricom dominated market activity, accounting for 34.4% of the week’s turnover. The counter’s price function advanced by 2.0% w/w to KES 28.50.
Of the top traded banking stocks, NCBA Group, Equity Group, and Co-op Bank inched upwards by 2.4% w/w, 1.9% w/w, and 0.8% w/w to KES 85.00, KES 67.00, and KES 23.90, respectively.
On the other hand, Jubilee Insurance tapered by 2.2% w/w to KES 322.50.
Uchumi was the week’s top gainer, rallying by 43.0% w/w to 1.13. Conversely, WPP ScanGroup was the week’s leading laggard, down 3.8% w/w to KES 2.50.
Foreign investors were bullish, with net inflows of USD 54.1K. Safaricom led the buying charge, while Equity Group led the selling charge. Foreign investor activity softened to 2.3% from 8.2% in the prior week.
