EQUITY MARKET COMMENTARY
The market closed the week on a mixed note with the NASI and the N10 advancing by 0.5%w/w each. The NSE 20 and NSE 25, on the other hand, retreated by 0.8%w/w and 0.1%w/w, respectively.
Market activity declined to USD 10.3m (-41.9%w/w). Safaricom dominated market activity, accounting for 38.0% of the week’s turnover. The counter’s price function rose by 3.1%w/w to KES 18.30, closing as the week’s best-performing top mover.
Among the top-traded banking stocks, Equity Group and KCB Group gained 1.0%w/w and 0.4%w/w to KES 47.10 and KES 42.15, respectively.
EABL and Kenya Re shed 2.8%w/w and 15.7%w/w to KES 180.00 and KES 1.61, respectively. The latter closed the week as the worst-performing top mover.
Foreign investors remained bearish, with net outflows of USD 657.2K. EABL led the buying charge, while Equity Group led the selling charge. Foreign investor participation edged upwards to 42.7% from 19.9% in the prior week.
