Daily Market Brief
Equities were up 0.9% on the second lasts trading day of October, rallied by NSE 10 counters at 1.6% gain followed by NSE 20 and NSE 25 with 1.1% and 1.3% rises, respectively. Banks lost 1.7% on average even as Equity Group became the first to announce its Q3-2024 financials.
Shares traded dropped by 32.7% to 15.83Mn from 23.51Mn shares constituting a 49.1% decline in turnover from KES 559.92Mn to KES 285.24Mn.
Safaricom retained top mover position with KES 74.15Mn turnover after changing hands 2.51Mn shares. Equity Group and NCBA Group occupied 2nd and 3rd mover positions with KES 29.05Mn and KES 28.55Mn turnovers, respectively. Equity Group had a surge in its counter price from KES 60.50 to KES 63.50 after sharing their improved financials for the 3rd Quarter.
Foreign activities dipped from 26.8% to 20.3% with a jump in net foreign outflows from a KES 5.46Mn net inflow to a KES 70.42Mn. Most foreign exits were noted on Safaricom, Equity Group and KenGen while foreign entries happened on Safaricom, Equity Group and Absa Gold.
Secondary bonds dropped 31.1% in value traded to KES 7.76Bn while recording a drop of 2.8% in total number of deals .FXD1/2021/20Yr was the most traded today despite its yield rising from 13.2828% to 13.3621%.
The Central Bank of Kenya re-opened two papers for November’s primary auction, FXD1/2012/020 (7.0-years, 12.000% coupon) and FXD1/2022/015 (11.4-years, 13.942% coupon). CBK also announced a Buyback offer for FXD1/2023/003 (6.7-Months – maturing on 11th May 2026) targeting to settle KES 30.00Bn out of the outstanding amount of KES 76.54Bn.
