Daily Market Brief
The stock market dropped by 0.4% on average as investors continue cashing in on capital gains especially on the banking sector which hit their highs recently. NSE 20 counter lost the most by 1.0% while NSE 10 and NSE 25 counters declined marginally by 0.2% and 0.4% respectively. The banking sector shrunk by 0.4% on average.
Shares traded spiked significantly from 9.88Mn to 42.38Mn shares constituting to a surge in the day’s turnover from KES 179.28Mn to KES 1567.22Mn. Market focus was in the banking and telecommunication sector which moved KES 722.04Mn and KES 463.79Mn in turnover respectively.
Safaricom was the top mover with KES 463.79Mn in turnover after 16.19Mn shares were traded. The 2nd and 3rd top movers were EABL and KCB Group with turnovers of KES 285.87Mn and KES 194.68Mn respectively.
Foreign activity grew to 57.3% while net foreign outflows increased to KES 496.47Mn. Major net foreign inflows happened on KCB Group while net foreign outflows happened on Safaricom, Absa Bank and EABL.
Secondary bonds’ turnover soared by 63.6% from KES 14.34Bn to KES 23.45Bn as investors continue cashing in on the recently auctioned November papers. FXD1/2022/25yr was the most traded paper after its yield dropped from 13.6307% to 13.4457% against 13.7460% that was accepted in the primary market.
