[Graph in PDF]
Daily Market Brief
The overall market rose by 0.5%, largely driven by a 0.3% increase in the most liquid counters. NSE 25 had a 0.2% gain followed by NSE 20 with a 0.1% expansion. The banking sector jumped by 0.1% on average.
Volumes traded contracted by more than a half from 25.92Mn to 9.34Mn resulting in a 63.1% drop in turnover from KES 959.87Mn to KES 353.95Mn. Market focus was mainly in the banking and manufacturing sectors which had KES 219.49Mn and KES 66.98Mn in turnover respectively.
KCB Group was the day’s top mover with KES 80.66Mn in turnover after a surge in foreign activity to 67.6%, coupled with a 0.7% jump in its share price to KES 67.25. BAT and DTBK came in 2nd and 3rd with KES 52.70Mn and KES 40.15Mn in turnover respectively.
Foreign activity dwindled to 37.2% with a decline in net foreign outflow from KES 873.28Mn to KES 116.30Mn. Safaricom recorded major net foreign inflows while KCB Group, BAT and Equity Group experienced net foreign outflows.
Secondary bonds’ turnover drop by 11.6% to KES 15.39Bn from KES 17.40Bn while number of deals shrunk to 203 from 249.The most traded paper was FXD1/2021/25yr with a turnover of KES 3.87Bn.
The Central Bank of Kenya announced a Switch of KES 20.00Bn from FXD1/2016/010 (0.6-years, 15.0390% coupon) maturing on 17th August, 2026 to FXD1/2022/015 (11.3-years, 13.9420% coupon) in a move that is seen to re-structure its debts.
