EQUITY MARKET COMMENTARY
The market closed the week in the red, with the NASI, NSE 20, and NSE 25 retreating by 0.3% w/w each. Likewise, the N10 eased by 0.2% w/w.
Market activity declined by 40.1% w/w to USD 15.0m. Safaricom dominated market activity, accounting for 21.1% of the week’s turnover. The counter’s price function declined by 0.3% w/w to KES 19.90.
Among the top mover banking stocks, Equity Group and KCB Group erased 0.3% w/w and 4.8% w/w to KES 48.45 and KES 40.80, respectively. The latter closed the session as the worst-performing top mover. On the other hand, Co-op and I&M rose by 1.3% w/w and 8.2% w/w to KES 15.70 and KES 34.50, respectively. The latter closed the session as the best performing top mover.
Foreign investors remained bullish, with net inflows of USD 276.2K. Safaricom led the buying charge, while KCB Group led the selling charge. Foreign investor participation edged downwards to 27.9% from 40.3% in the prior week.
Expected in the week: Wednesday 28th May 2025 – Jubilee Holdings KES 11.50 dividend book closure |Thursday 29th May 2025 – Car & General KES 0.80 dividend book closure | Friday 30th May 2025 – May Inflation numbers, BOC KES 6.15 dividend book closure | Kakuzi KES 8.00 dividend book closure. ABSA, DTB, I&M, and Equity Group 1Q25 results expected by 30th May 2025.
