{"id":11199,"date":"2024-12-23T10:53:19","date_gmt":"2024-12-23T10:53:19","guid":{"rendered":"https:\/\/sib.co.ke\/reports\/?p=11199"},"modified":"2024-12-23T10:53:20","modified_gmt":"2024-12-23T10:53:20","slug":"kenya-weekly-market-wrap-23-dec-2024","status":"publish","type":"post","link":"https:\/\/sib.co.ke\/reports\/kenya-weekly-market-wrap-23-dec-2024\/","title":{"rendered":"KENYA WEEKLY MARKET WRAP | 23 Dec 2024"},"content":{"rendered":"\n
SIB Weekly Market Wrap 22 Dec 2024<\/a>Download<\/a><\/div>\n\n\n\n

<\/p>\n\n\n\n

The market closed the week on a bullish note, with the NASI, N10, NSE 20, and NSE 25 gaining 2.2%w\/w, 1.3%w\/w, 1.5%w\/w, and 1.5%w\/w, respectively. Worth noting, the N10 extended its all-time high to 1,268.40. <\/p>\n\n\n\n

Market activity jumped 11-fold to USD 190.19m (+1168.4%w\/w) driven by Bamburi\u2019s block trade on Wednesday and Thursday worth USD 68.53m and USD106.36m, respectively. Bamburi accounted for 92.5% of the week\u2019s turnover with its price function gaining 11.5%w\/w to close at KES 54.25. <\/p>\n\n\n\n

Amsons announced on Friday that they successfully received 96.54% shareholding from the offer, leaving Bamburi with a minority holding of 3.46%. We anticipate a squeeze-out notice by Amsons \u2013 expected within 3 months \u2013 now that they have acquired the critical mass (of more than 90% shareholding). <\/p>\n\n\n\n

Safaricom and KCB Group rose by 3.5%w\/w and 0.4%w\/w to KES 17.60 and KES 39.65, respectively. Equity Group, on the other hand, which was the only top mover to lose, retreated by 4.3%w\/w to KES 45.95. Britam, a surprise top mover, gravitated towards a position of relative stability remaining unchanged at KES 5.78. <\/p>\n\n\n\n

Foreign investors turned bearish with net outflows of USD 109.3m \u2013 on account of Bamburi\u2019s transaction. DTB led the buying charge while Bamburi led the selling charge. Foreign investor participation edged downward to 32.0% from 62.8% <\/p>\n\n\n\n

<\/p>\n\n\n\n

SIB Weekly Market Wrap 22 Dec 2024<\/a>Download<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The market closed the week on a bullish note, with the NASI, N10, NSE 20, and NSE 25 gaining 2.2%w\/w, 1.3%w\/w, 1.5%w\/w, and 1.5%w\/w, respectively. Worth noting, the N10 extended its all-time high to 1,268.40.  Market activity jumped 11-fold to USD 190.19m (+1168.4%w\/w) driven by Bamburi\u2019s block trade on Wednesday and Thursday worth USD 68.53m…<\/p>\n","protected":false},"author":3,"featured_media":11147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1],"tags":[92,73,78,77,81,82],"class_list":["post-11199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-weekly-reports","tag-equity-group","tag-kcb-bank","tag-kenyan-equities","tag-nse","tag-t-bills","tag-t-bonds"],"yoast_head":"\nKENYA WEEKLY MARKET WRAP | 23 Dec 2024 - Standard Investment Bank<\/title>\n<meta name=\"description\" content=\"The market closed the week on a bullish note, with the NASI, N10, NSE 20, and NSE 25 gaining 2.2%w\/w, 1.3%w\/w,1.5%w\/w, and 1.5%w\/w, respectively. Worth noting, the N10 extended its all-time high to 1,268.40.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sib.co.ke\/reports\/kenya-weekly-market-wrap-23-dec-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KENYA WEEKLY MARKET WRAP | 23 Dec 2024\" \/>\n<meta property=\"og:description\" content=\"The market closed the week on a bullish note, with the NASI, N10, NSE 20, and NSE 25 gaining 2.2%w\/w, 1.3%w\/w,1.5%w\/w, and 1.5%w\/w, respectively. 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Worth noting, the N10 extended its all-time high to 1,268.40.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/sib.co.ke\/reports\/wp-content\/uploads\/2024\/12\/Weekly-Market-Wrap-Cover.png\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Egla\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sib.co.ke\/reports\/kenya-weekly-market-wrap-23-dec-2024\/\",\"url\":\"https:\/\/sib.co.ke\/reports\/kenya-weekly-market-wrap-23-dec-2024\/\",\"name\":\"KENYA WEEKLY MARKET WRAP | 23 Dec 2024 - Standard Investment Bank\",\"isPartOf\":{\"@id\":\"https:\/\/sib.co.ke\/reports\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/sib.co.ke\/reports\/kenya-weekly-market-wrap-23-dec-2024\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/sib.co.ke\/reports\/kenya-weekly-market-wrap-23-dec-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sib.co.ke\/reports\/wp-content\/uploads\/2024\/12\/Weekly-Market-Wrap-Cover.png\",\"datePublished\":\"2024-12-23T10:53:19+00:00\",\"dateModified\":\"2024-12-23T10:53:20+00:00\",\"author\":{\"@id\":\"https:\/\/sib.co.ke\/reports\/#\/schema\/person\/b3bf74a455e16795d95062aac89198e2\"},\"description\":\"The market closed the week on a bullish note, with the NASI, N10, NSE 20, and NSE 25 gaining 2.2%w\/w, 1.3%w\/w,1.5%w\/w, and 1.5%w\/w, respectively. 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