EQUITY MARKET COMMENTARY
The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 rising by 0.3% w/w, 0.1% w/w, 1.8% w/w, and 0.7% w/w, respectively.
Market activity declined to USD 16.2m (-61.9% w/w). Safaricom dominated market activity, accounting for 36.5% of the week’s turnover. The counter’s price function eased by 1.7% w/w to KES 28.90.
Of the top traded banking stocks, Equity Group gained 0.4%w/w to KES 58.25, with KCB Group gravitating to a position of relative stability, remaining unchanged at KES 57.00.
Energy stocks recorded strong gains with Kenya Power and KenGen, soaring 11.1%w/w and 13.4%w/w to KES 15.50 and KES 10.00, respectively.
Williamson Tea was the week’s top gainer, up 31.2% w/w to close at KES 325.75. On the other hand, Unga Group shed 5.6% w/w to KES 22.90, closing as the week’s leading laggard.
Foreign investors were bullish, with net inflows of USD 865.7k. KCB Group led the buying charge, while Safaricom led the selling charge. Foreign investor activity rose to 35.7% from 10.1% in the prior week.
