Daily Market Brief
Stock prices dropped for the third consecutive trading day on Thursday, 18th September, shedding 1.5% on average as measured by the Nairobi all-share index (NASI). NSE 10 lost the most at 1.6% followed by NSE 20 and NSE 25 with 1.4% and 1.3% losses respectively.
Shares traded dipped 85.7% from 83.79Mn to 11.99Mn shares to pull down the day’s turnover from KES 3,265.16Mn to KES 377.30Mn. British American Tobacco (BAT) emerged the day’s top mover with KES 133.94Mn followed by KCB Group and Equity Group in that order.
Foreign activity sunk from 44.9% to 8.1% with a dip in net foreign outflows from KES 2,796.48Mn to KES 37.48Mn.
Secondary bonds market value traded dropped40.4% down from KES 13.23Bn to KES 7.88Bn driven down by a decline low activities. The number of deals dropped 28.7% from 265 to 189 deals.
The primary auction saw a total of KES 97.29Bn subscribed with the government accepting KES 61.44Bn to represent a 153.6% performance against a target of KES 40 billion. The weighted average rate for accepted bid was within our conservative bidding level for FXD1/2018/020 and within the aggressive bidding rate for the FXD1/2022/025 paper.
