EQUITY MARKET COMMENTARY
The market closed the week in the green with the NASI, N10, NSE 20 and NSE 25 advancing by 0.5%w/w, 0.1%w/w,0.4%w/w and 0.2%w/w, respectively.
Market activity rose to USD 17.7m (+14.1%w/w). Liberty Kenya Holdings dominated market activity, accounting for 27.2% of the week’s turnover. The counter rose 6.5% to KES 8.18, driven largely by local investor activity.
Among the top mover banking stocks, StanChart surged 12.3% w/w to KES 304.00 to close as the week’s best-performing mover, likely supported by its record dividend announcement and strong FY24 earnings performance (more below). Conversely, Equity Group and KCB Group eased by 2.0% w/w and 0.4% w/w to KES 46.65 and KES 42.00, respectively. The former emerged as the week’s worst-performing mover.
Safaricom’s price function gravitated to a position of relative stability, remaining unchanged at KES 17.75.
Foreign investors remained bearish, with net outflows of USD 1.2m. Safaricom led the buying charge, while KCB Group led the selling charge. Foreign investor participation edged downwards to 19.9% from 27.8% in the prior week.
Expected in the week; Tuesday, 25th March 2025 – I&M Group FY24 Results Release* | Wednesday, 26th March 2025 – NCBA Group FY24 Results Release |Thursday, 27th March 2025 – Equity Group FY24 Results Release |Friday, 28th March 2025 – DTB FY24 Results Release*
