Daily Market Brief
The overall equities market experienced a 0.8% decline as some investors exit to benefit from elevated prices, particularly in the banking sector. NSE 20 counter shrank 1.4% while NSE 10 and NSE 25 counters shed 1.2% each. Banks contracted the most by 1.7% on low foreign activity.
Shares traded dwindled by more than half from 42.38Mn to 11.40Mn shares resulting in a decline in the day’s turnover from KES 1567.22Mn to KES 230.84Mn. Market focus was in the banking and energy sector which moved KES 142.48Mn and KES 36.98Mn in turnover respectively.
KCB Group was the top mover of the day with KES 47.77Mn in turnover after 0.81Mn shares were traded. The 2nd and 3rd top movers were Stan-Chart and Safaricom with turnovers of KES 47.36Mn and KES 33.24Mn respectively.
Foreign activities decreased to 15.8% from 57.3% with a jump in net foreign inflows from KES 496.47Mn net outflow to KES 16.96Mn. KCB Group and Diamond Trust Bank Kenya recorded a net foreign inflow while Kakuzi and Umeme Ltd recorded a net foreign outflow.
Secondary bonds’ turnover sunk by 48.5% to KES 12.08Bn with a drop of 37.3% in total number of deals from 271 to 170 made during the day .IFB1/2018/15Yr was the most traded today with a turnover of KES 5.59Bn due to a drop in its yield from 11.9227% to 11.8187%.
