Equity Market Summary
The market closed the week on a bullish note with the NSE 20 and NSE 25, gaining 0.7% w/w each. Likewise, the NASI and N10 advanced by 1.0% w/w and 0.6% w/w, respectively.
Market activity declined to USD 18.0m (-33.3% w/w). Safaricom dominated market activity, accounting for 23.6% of the week’s turnover. The counter’s price function advanced by 2.1% w/w to KES 29.70.
Of the top traded banking stocks, KCB Group, ABSA, and NCBA inched upwards by 0.7% w/w, 0.8% w/w, and 1.1% w/w to KES 67.50, KES 25.75, and KES 90.00, respectively. On the other hand, Equity Group eased by 0.7%w/w to KES 69.00.
East African Portland Cement was the week’s top gainer, rallying by 14.0% w/w to 85.25. Conversely, ABSA Gold ETF was the week’s leading laggard, down 39.4% w/w to KES 3,260.00.
Foreign investors were bullish, with net inflows of USD 417.2K. NCBA led the buying charge, while Safaricom led the selling charge. Foreign investor activity declined to 34.8% from 43.3% in the prior week.
