EQUITY MARKET COMMENTARY
The market closed the week on a mixed note with the N10 and NSE 25 advancing by 0.1%w/w each, whereas the NASI rose by 0.5%w/w. The NSE 20, on the other hand, retreated by 0.1%w/w.
Market activity increased to USD 11.5m (+11.7%w/w). Safaricom dominated market activity, accounting for 30.1% of the week’s turnover. The counter’s price function rose by 1.9%w/w to KES 18.65, partly buoyed by foreign investor purchases.
Among the top-traded banking stocks, NCBA and Stanbic jumped by 2.9%w/w and 2.3%w/w to KES 54.00 and KES 165.50, respectively, with the former closing the week as the best-performing mover. On the other hand, KCB Group dipped by 5.7%w/w to KES 39.75, likely attributable to investors pricing in its KES 1.50 final dividend book closure on 3rd April 2025.
BK Group’s price function remained unchanged at KES 34.00.
Foreign investors turned bullish, with net inflows of USD 1.0m. Safaricom led the buying charge, while BAT led the selling charge. Foreign investor participation edged upwards to 69.9% from 42.7% in the prior week.
Expected in the week: Tuesday, 8th April 2025 – CBK MPC Interest Rate Decision
