Daily Market Brief
Stocks closed Friday, 4th July with an additional 0.6% gain, as the market continue to reap off from the downing interest rates and the prevailing low inflations. Week on week, the prices were up 5.7%.
Shares traded however declined 64.0% from 50.85Mn to 18.29Mn shares to pull down the market value 75.7% from KES 1,779.10Mn to KES 432.33Mn. Market focus remained on the banking sector which moved KES 306.80Mn from 6.49Mn shares. KCB Group led banks with KES 188.86MN after changing hands 4.02Mn shares whose price expanded further 1.3% from KES 46.40 to KES 47.00 per shares.
Foreign participation thinned to 18.3% with a net foreign inflow of KES 12.84Mn compared to an average of 63.7%with a KES 9.86MN net foreign outflow traded on Thursday.
The secondary bonds market value traded improved 15.9% from KES 7.56Bn to KES 8.76Bn ahead of next-week’s primary auction for FXD1/2018/020 and FXD1/2018/025 where the government is seeking KES 50.00Bn. Watch out for our primary pre-auction note on Monday, next week.
FXD1/2018/10 emerged the day’s top mover after trading KES 4.80Bn while its yield attracted 13.7bps from 11.000% to 11.1367% against a coupon rate of 12.686.
