Daily Market Monitor 12th November 2018

Foreign investor participation burgeoned to account for 92.1% of total market turnover from 57.9% recorded in the previous session. Notably, Safaricom accounted for 73.4% of total activity, trading  10.3Mn shares at an average of KES 24.25. Most of this activity was  from the foreign desk where buys and sales were almost equally spread on the counter, recording overall net buying activity. Other counters eliciting foreign interest were KCB, Equity Group and EABL. Along with Safaricom, net buying activity was mainly on EABL and Equity Group while net selling was mainly on KCB. Foreign investors were net buyers in the session for the second consecutive session.

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by Genghis Research