EQUITY MARKET COMMENTARY
The market closed the week in the green with the NASI, N10, NSE 20, and NSE 25 gaining 1.2%w/w, 0.9%w/w, 1.6%w/w, and 1.3%w/w, respectively.
Market activity rose to USD 19.14m (+40.2%w/w). Safaricom dominated market activity, accounting for 32.8% of the week’s turnover. The counter’s price function strengthened by 0.6%w/w to KES 18.05.
Of the top-traded banking stocks, KCB Group and Equity Group retreated by 0.4%w/w each to KES 44.75 and KES 48.50, respectively. I&M and BK Group inched upwards by 0.3%w/w and 3.3%w/w to KES 36.05 and KES 37.15, respectively. The latter closed the week as the best-performing top mover.
Foreign investors remained bearish, with net outflows of USD 4.70m. Kenya Power led the buying charge, while Safaricom led the selling charge. Foreign investor participation edged upwards to 37.8% from 19.8% in the prior week.
Expected in the week; Wednesday, 12th March 2025 – KCB Group FY24 Results Release | Friday, 14th March 2025 – EPRA Pump Price Review.
