Daily Market Brief
The overall market ended the week with a 1.8% improvement as measured by the Nairobi All Share Index. NSE 10 counters gained 1.8% followed by NSE 20 and NSE 25 counters with 0.8% and 2.0% gains respectively. Banks shrunk by 1.9% on average.
Shares traded jumped by 81.6% from 15.83Mn to 28.75 shares resulting in a surge from KES 285.24Mn to KES 886.73Mn in turnover.
Equity Group emerged as the top mover of the day with a turnover of KES 313.23Mn .This was due to the recent release of their improved financials for Quarter three which pushed their share price from KES 63.50 to KES 66.25 .The second and third top movers of the day were I&M Group and Safaricom with turnovers of KES 183.64Mn and KES 92.32Mn respectively.
Foreign activities increased to 37.2% from 20.3% with a jump in net foreign inflows from a KES 70.42Mn net outflow to a KES 76.00Mn. Equity Group, Safaricom and KCB Group recorded a net foreign inflow while I&M Group recorded a net foreign outflow.
Secondary bonds’ turnover sunk by 8.7% to KES 7.09Bn with a drop of 30.1% in total number of deals from 173 to 121 made during the day .FXD1/2018/20Yr was the most traded today with a turnover of KES 1.5Bn due to a drop in its yield from 13.100% to 13.075%.
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.
