Daily Market Brief
Equity prices pushed up further, with NASI advancing by 0.5%, largely supported by a 0.8% gain in NSE 10 counters. NSE 20 and NSE 25 posted gains of 0.6% and 0.7%, respectively, while banks grew by 0.7% on average.
The day’s turnover dropped by 19.8% from KES 1,340.31Bn to KES 1,075.44Bn due to a 10.7% decline in volumes traded from 38.67Mn to 34.55Mn.
Safaricom was the day’s top mover with a turnover of KES 462.03Mn, while Equity Group and KCB Group followed with turnovers of KES 148.68Mn and KES 93.94Mn, respectively.
Foreign activity edged lower to 25.3%, with net foreign outflows narrowing to KES 266.64Mn from KES 379.74Mn, of which Safaricom contributed KES 226.63Mn in net foreign outflows.
Secondary bonds’ turnover nearly doubled from KES 7.66Bn to KES 13.06Bn, despite the ongoing primary sale of the reopened papers. FXD2/2018/10yrs was the most traded, with a turnover of KES 6.20Bn.
CBK reopened two papers in September, FXD3/2019/15yrs (7.9 years, 12.3400% coupon) and SDB1/2011/030yrs (14.4 years, 12.000%coupon) targeting 60Bn from the market. The primary auction is scheduled for 2nd September 2026. Find our pre-auction note HERE.
