Equity Market Commentary
The market closed the week on a mixed note, with the NASI and NSE 20 up by 0.9%w/w and 0.1% w/w while the N10 and NSE 25 eased by 0.5%w/w and 1.2%w/w.
Market activity edged downwards to USD 14.15m (-34.0%w/w). Safaricom dominated market activity at 23.3% of the week’s turnover with its price function gaining 2.8%w/w to close at KES 18.60 – a 29-week high.
Of the top traded banking stocks, Equity Group and HF Group rallied by 2.1%w/w and 54.8%w/w to KES 48.50 and KES 8.98, respectively. The latter doubled as the week’s best-performing top mover and the week’s top gainer. KCB Group, on the other hand, retreated by 0.8%w/w to KES 42.95.
EABL rose by 0.4%w/w to KES 180.25 – with its 1H25 results expected on 31st January 2025.
Foreign investors turned bullish with net inflows of USD 660.64k. Safaricom led the buying charge while KCB Group led the selling charge. Foreign investor participation edged upward to 48.8% from 32.2% in the prior week.
