Equity Market Summary
The market closed the week on a mixed note with the NASI, N10, and NSE 20 easing by 1.1% w/w, 0.5% w/w, and 0.9% w/w, respectively. The NSE 25, on the other hand, advanced by 0.1% w/w.
Market activity improved to USD 32.2m (+60.1% w/w). Equity Group dominated market activity, accounting for 33.9% of the week’s turnover. The counter’s price function dwindled by 0.8% w/w to KES 60.50. KCB Group, on the other hand, gained 6.2% w/w to KES 59.75, closing the week as the best performing top mover.
Kenya Power, KenGen, and Safaricom retreated by 4.2% w/w, 8.0% w/w, and 3.3% w/w to KES 11.50, KES 8.02, and KES 27.95, respectively.
Jubilee was the week’s top gainer, up 7.0% w/w to close at KES 326.75. Conversely, East African Portland Cement was the week’s leading laggard, down 9.3% w/w to KES 75.50.
Foreign investors were bullish, with net inflows of USD 2.7m. Safaricom led the buying charge, while KCB Group led the selling charge. Foreign investor activity rose to 32.5% from 25.0% in the prior week.
