EQUITY MARKET COMMENTARY
The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 rising by 5.8% w/w, 6.6% w/w, 4.1% w/w, and 5.7% w/w, respectively.
Market activity advanced by 81.4% w/w to USD 25.1m. Safaricom dominated market activity, accounting for 42.9% of the week’s turnover. The counter’s price function gained 7.5% w/w to KES 19.95 – a 22-month high, as investors priced in its FY25 financial results released during the week.
Among the top mover banking stocks, KCB Group, Co-op Bank, and Equity Group surged by 11.3% w/w, 8.8% w/w and 2.5% w/w to KES 42.85, KES 15.50 and KES 48.60, respectively.
EABL soared by 10.2% w/w to KES 192.00, partly attributable to foreign investor exits, to close as the week’s bestperforming mover.
TPS Serena was among the top losers in the week, down 6.5% w/w to KES 14.30 as investors priced in its firm’s FY24 financial results. The firm reported a 1.9x y/y jump in its PAT to KES 1.3bn, with the Board of Directors recommending a final dividend of KES 0.35 (book closure slated for 30th June 2025).
Foreign investors turned bullish, with net inflows of USD 1.9m. Equity Group led the buying charge, while KCB Group led the selling charge. Foreign investor participation edged downwards to 40.3% from 46.1% in the prior week.
Expected in the week: Tuesday 20th May 2025 – Absa and Equity Group 1Q25 results release |Wednesday 21st May 2025 – NSE KES 0.32 final dividend book closure, KCB Group and Standard Chartered 1Q25 results release | Thursday 22nd May 2025 – NCBA Group 1Q25 results release |Friday 23rd May 2025 – Equity Group KES 4.25, DTB KES 7.00 and BAT KES 45.00 dividend book closures (*results release dates are tentative).
