Foreign investors maintained their bearish sentiments as net sellers for the fourth successive session on the Nairobi Securities Exchange (NSE) Wednesday.
According to Standard Investment Bank Research, foreign investors registered net outflows of USD 4.9m – 162.8 percent higher than Wednesday’s session.
“The market closed lower for the fourth straight session, down 1.4 percent, mainly on bearish sentiments from foreign investors; the NSE 25 and NSE 20 also followed suit, shedding 0.8 percent and 0.3 percent respectively,” they said.
The NSE All-Share Index (NASI) dropped 2.01 points to close at 138.45, NSE 20 Share Index dropped 6.32 points to close at 1943.50 and NSE 25 Share Index dropped 27.73 points to close at 3241.78.
Market activity soared 184.5 percent to USD 4.9m, on increased trading across most large caps. On Thursday, 65,174,300 shares in 1,341 deals, corresponding to a market value of Ksh 1.136 billion were traded.
Safaricom was the most traded counter, accounting for 52.6 percent of total turnover, trailed by Absa Bank Kenya at a distant 10.7 percent.
Safaricom was once more the leading laggard in the top movers’ list, dropping 2.7 percent, on foreign selling. It, as a result, attracted the bulk of the net outflows of the session of USD 2.5m.
As a reflection of the general market sentiments, KCB Group was the only gainer in the list (top movers’), marginally inching up 0.5 percent
.Kenya Re-Insurance Corporation (KNRE) was the biggest loser of the day depreciating by 5.41 percent closing at Ksh 2.10 per share.
Source: Standard Investment Bank Research