Daily Market Brief
The stock market dipped by 1.0%, with large cap counters, NSE 10, sinking by 1.3%. NSE 20 and NSE 25 counters reduced by 0.7% and 1.2% respectively. The banks sector reduced by 1.6% on average.
Shares traded contracted by more than half to 15.14Mn from 44.80Mn shares accounting for a 50.5% drop in market turnover from KES 1220.74Mn to KES 604.21Mn.
BAT was the top mover of the day with KES 217.43Mn in turnover. KCB Group retained the 2nd position for the 3rd consecutive day with a turnover of KES 132.04Mn after 2.01Mn shares changed hands. EABL secured the 3rd position with a turnover of KES88.68Mn.
Foreign activities dwindled from 59.9% to 10.8% with net foreign outflow diminishing from KES117.95Mn to KES 11.25Mn. Major net foreign inflows happened on KCB Group while net foreign outflows were noted on Safaricom, Equity Group and Umeme Ltd.
Secondary bonds’ turnover improved by 7.4% from KES14.46Bn to KES 15.53Bn as investors continued cashing in on the recently auctioned November papers.FXD1/2022/025 was the most traded paper with its yield dropping by 27.83bps to 13.1550% from 13.4333% against 14.1423% that was accepted in the primary market.
The Central Bank of Kenya re-opened two more papers for November’s primary auction, FXD3/2019/015 (8.7-years, 12.340% coupon) and FXD1/2022/025 (21.9-years, 14.188% coupon). 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.
