EQUITY MARKET COMMENTARY
The market closed the week in the red, with the NASI, N10, NSE 20 and NSE 25 down 3.6%w/w, 3.9%w/w, 2.6%w/w and 3.3%w/w, respectively.
Market activity notched upwards to USD 12.4m (+8.6%w/w). Safaricom dominated market activity, accounting for 35.9% of the week’s turnover. The counter’s price function weakened by 5.4%w/w to KES 17.65, partly attributable to foreign investor purchases.
Among the top-traded banking stocks, KCB Group and Equity Group tapered by 3.6%w/w and 5.3%w/w to KES 38.30 and KES 44.60, respectively. BAT and Britam shed 3.0%w/w and 7.1%w/w to KES 180.25 and KES 6.80, respectively, with the latter emerging as the week’s worst-performing mover.
Foreign investors turned bearish, with net outflows of USD 3.8m. Safaricom led the buying charge, while BAT led the selling charge for the second week. Foreign investor participation edged upwards to 42.9% from 38.3% in the prior week.
Expected in the week: Monday, 14th April 2025 – April/May 2025 EPRA pump price cycle review, Wednesday, 16th April 2025 – I&M KES 1.70 final dividend book closure.
