EQUITY MARKET COMMENTARY
The market closed the week in the green with the NASI, N10, NSE 20 and NSE 25 rising by 1.0% w/w, 0.9% w/w, 0.1% w/w and 0.5% w/w, respectively.
Market activity advanced by 41.2%w/w to USD 13.8m. Safaricom dominated market activity, accounting for 29.9% of the week’s turnover. The counter’s price function gained 2.8% w/w to KES 18.50.
Among the top mover banking stocks, BK Group and Equity Group rose by 4.8% w/w and 2.9% w/w to KES 33.00 and KES 47.40, respectively, with the former closing the week as the best-performing mover. On the other hand, KCB Group eased by 0.1% w/w to KES 38.50.
EABL advanced by 1.5% w/w to KES 174.25, partly attributable to foreign investor exits.
Standard Group was among the top losers in the week, down 16.9% w/w to KES 5.20 as investors priced in an announcement informing shareholders and stakeholders of a delay in the publication of the Company’s audited financial statements for the fiscal year ending 31st December 2024.
Foreign investors remained bearish, with net outflows of USD 315.4k. Equity Group led the buying charge, while KCB Group led the selling charge. Foreign investor participation edged downwards to 46.1% from 74.7% in the prior week.
Expected in the week: Wednesday,14th May 2025 – EPRA May pump price cycle review | Friday, 16th May 2025 – Stanbic Holdings KES 18.90 final dividend book closure, Co-operative Bank 1Q25 financial results* (tentative).
