Daily Market Brief
The equity market dropped by 0.8% overall as measured by the Nairobi All-Share Index. NSE 10 diminished the most by 0.9% followed by NSE 20 and NSE 25 counters with 0.5% and 0.7% respectively. The banking sector declined by 0.6% on average.
Volumes traded shrunk by 27.2% to 22.14Mn from 30.40Mn shares bringing about a decline in market turnover by 13.8% from KES 504.45Mn to KES 434.94Mn.
Safaricom was the top mover of the day with KES 122.58Mn in turnover after an increase in volume traded from 2.41Mn to 4.21Mn. KCB Group emerged the 2nd top mover of the day with a turnover of KES 98.29Mn after 1.41Mn shares changed hands while the third top movers of the day was EABL with a turnover of KES 30.75Mn.
Foreign activities jumped from 22.7% to 36.7% with an increase in net foreign outflow from KES 14.23Mn to KES42.31Mn. Net foreign outflows was majorly experience on Safaricom and KCB Group.
Secondary bonds’ turnover dwindled by 27.3% from KES 9.61Bn to KES 6.99Bn while number of deals reduced by 16.7% due to the primary bond value settlement that happened in the day. The market activities are expected to increase as the recently auctioned November papers enter the secondary market.
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.
