EQUITY MARKET COMMENTARY
The market closed the week in the red, with the NASI, N10, NSE 20 and NSE 25 down by 1.1%w/w, 1.2%w/w, 0.7%w/w and 0.9%w/w, respectively.
Market activity edged downwards to USD 7.4m (-40.6%w/w). KCB Group dominated market activity, accounting for 45.0% of the week’s turnover. The counter’s price function weakened by 0.1%w/w to KES 38.25, partly attributable to foreign investor exits.
Safaricom and EABL, on the other hand, eased by 2.0%w/w and 5.7%w/w to KES 17.30 and KES 170.00, respectively.
StanChart gained 0.4%w/w to close at KES 300.25 while Britam gravitated to a position of relative stability, remaining unchanged at KES 6.80.
Foreign investors remained bearish, with net outflows of USD 2.2m. DTB led the buying charge, while KCB Group led the selling charge. Foreign investor participation edged upwards to 51.2% from 42.9% in the prior week.
