Daily Market Brief
The stock market dropped by 0.4% as measured by the Nairobi All-Share Index .However, NSE 20 counters had the highest gain of 1.0% followed by NSE 10 and NSE 25 counters with 0.4% and 0.5% gains respectively .The banking sector rose by 1.3% on average.
Market turnover shrank by more than half from KES 1219.40Mn to KES 504.45Mn due to a decline in volumes traded to 30.40Mn from 35.41Mn shares.
Equity Group emerged the top mover of the day with a turnover of KES 145.67Mn majorly due to a jump in volumes traded from 0.91Mn to 2.09Mn. The second and third top movers of the day were KCB Group and Safaricom with turnovers of KES 73.00Mn and KES 71.24Mn respectively.
Foreign activities diminished from 37.9% to 22.7% with a drop in net foreign outflow from KES 465.27Mn to KES 14.23Mn. Most net foreign inflows happened on KCB Group and Kenya Power while net foreign outflows were recorded on Equity Group and Safaricom.
Secondary bonds’ turnover grew by 47.3% from KES 6.52Bn to KES 9.61Bn while number of deals rose by 31.1%. The market is expected to shift back to normal in the coming week as investors settle into the secondary market as well as begin cashing in on the recently auctioned November papers.
CBK announced a Buyback offer for FXD1/2023/003 (6.7-Months – maturing on 11th May 2026) targeting to settle KES 30.00Bn out of the outstanding amount of KES 76.54Bn.
