Daily Market Brief
The equity market on average was relatively stable whereas NSE 20 recorded a marginal drop of 0.1%. NSE 10 and NSE 25 counters diminished by 0.4% and 0.5% respectively. The banking sector shrunk by 0.9% on average.
Shares traded dwindled by 6.5% from 24.60Mn to 22.99Mn shares pushing the day’s turnover down by 40.2% from KES 1029.43Mn to KES 616.06Mn. The market concentration was in the telecommunication and banking sector which moved KES 396.05Mn and KES 208.70Mn in turnover respectively.
The same sectors produced the top 3 movers of the day with Safaricom having KES 396.05Mn followed by Equity Group and KCB Group with KES 80.11Mn and KES 62.44Mn in turnover respectively.
Foreign activity jumped by 35.0% as net foreign outflows dropped to KES 3.64Mn. Major net foreign inflows happened on Equity Group while net foreign outflows happened on Safaricom and KCB Group.
Secondary bonds’ turnover contracted by 6.9% to KES 4.83Bn as investors returned to the secondary market. The most traded paper was IFB/2018/15yr despite its yield increasing by 36.10 bps to 11.7967% from 11.4357%.
The auction was oversubscribed at 289.7% or KES 115.86Bn with the government accepting KES 54.76Bn which account for 136.9% performance against a KES 40 billion target.
