EQUITY MARKET COMMENTARY
The market closed the week in the red with the NASI and NSE 20 down 0.2%w/w and 2.1%w/w, respectively. In addition, the N10 and NSE 25 eased by 1.3%w/w each.
Market activity shrank by 44.5%w/w to USD 9.8M. EABL dominated market activity, accounting for 53.9% of the week’s turnover. The counter’s price function gained 0.6%w/w to KES 171.75.
Conversely, Standard Chartered and Co-op Bank plummeted by 10.1%w/w and 10.0%w/w to KES 270.00 and KES 14.40, respectively. Notably, both counters’ dividend book closures were slated in the week (28th April 2025 for Co-op Bank and 30th April 2025 for StanChart). Equity Group rose by 1.3%w/w to KES 46.05.
Safaricom advanced by 4.7%w/w to KES 18.00 to close as the week’s best performing mover.
Foreign investors remained bearish, with net outflows of USD 85.7k. StanChart led the buying charge, while Safaricom led the selling charge. Foreign investor participation edged downwards to 74.7% from 75.9% in the prior week.
Expected in the week: Tuesday, 06th May 2025 – Stanbic April 2025 Purchasing Managers’ Index (PMI) | Friday, 09th May 2025 – Safaricom PLC FY25 earnings release
