Daily Market Brief
Stocks prices maintained an uptrend o Monday, 18th August 2024, gaining 0.4% still supported by the ongoing earnings season and the sustained interest rate cuts.
The day’s value traded improved 3.8% to KES 607.32Mn despite a 1.3% drop in volumes traded from 22.28Mn to 21.92Mn shares.
Foreign activity dropped from 51.7% on Friday to 35.2% on Monday with a 29.5% decline in the net foreign inflows from KES 99.95Mn to KES 70.46Mn.
Secondary bonds market value traded remained relatively stable after changing hands KES 6.29BN from 93 deals compared to KES 6.27Bn of 107 deals traded last Friday.
Elsewhere, investors remain optimistic of a tap-sale for last week’s auction after the government rejecting 70.6% of the amount subscribed and accepting only KES 95.01Bn, representing a 105.6% performance against target.
