Kenyan Equities Market Rebound Slightly on Improved Demand

Nairobi Securities Market’s Momentum Still Negative, Its 3rd Week

Image I Courtesy NSE

Turnover at the Nairobi Securities Exchange (NSE) declined week ending on 8 Dec. attributed to Net selling from foreign investors.

Genghis Capital showed the turnover decreased by 15.4% to KSh 2.8 billion in the week compared to previous Ksh 3.3 billion.

“Foreign investors were net sellers during the week, logging net outflows of Ksh 6.9Mn compared to a net inflow of Ksh 60Mn the previous week. Net buying activity was largely on Equity Group and Standard Group while net selling activity was majorly on KCB Group and EABL.”

During the week, the equities market was higher with NASI, NSE 20 and NSE 25 gaining by 1.5%, 0.1% and 1.2%, respectively, taking their YTD performance to gains/(losses) of 14.1%, (7.5%) and 11.7%, respectively.

The performance in NASI was driven by gains recorded by large-cap stocks such as KCB Group, Safaricom, Equity Group and Barclays of 3.0%, 2.9%, 2.5%, and 1.6%, respectively.

On Tuesday, data showed 92% improvement in volume, 142% improvement in turnover, and 26% improvement in deals according to Trading Room.

Safaricom PLC had the iHghest volume of 15 million traded shares, followed by Equity Group Holdings Plc (7.06m), KCB Group Plc (1.38m),Centum Investment Company Plc (1.04m).

NSE All Share Index [NASI] gained 0.16 points to close at 160.15, NSE 20 Share Index dropped 8.61 points to close at 2600.17 and the NSE 25 Share Index gained 1.77 points to close at 3940.20.