The market closed the week on a mixed note with the NASI, N10, and NSE 25 up 3.3%w/w, 3.0%w/w, and 2.5%w/w respectively while the NSE 20 retreated by 1.6%w/w.
Market activity declined to USD 14.80m (-26.1%w/w). Equity Group dominated market activity accounting for 31.2% of the week’s turnover. The counter’s price function rose by 0.9%w/w to KES 45.40. KCB Group, on the other hand, eased by 1.2%w/w to KES 37.95.
Safaricom was the week’s best-performing top mover, rallying by 8.3%w/w to close at KES 16.25 – a 4-week high. Similarly, EABL gained 3.8% to close at KES 172.00 while Kenya-Re declined by 7.0%w/w to close at KES 1.06 – having touched a 10-week low of KES 1.05 within the week.
Foreign investors remained bearish, with net outflows of USD 7.91m. Kenya Power led the buying charge while Equity Group led the selling charge. Foreign investor participation edged downwards to 54.6% from 80.1% in the prior week.
