× Digital News Videos Health & Science Lifestyle Opinion Education Cartoons Columnists Moi Cabinets Arts & Culture Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

Foreign investors dominate trading as Equity tops gainers

BUSINESS
By Peter Theuri | November 10th 2020

The first week of this month saw foreign investors sell equities worth Sh1.2 billion, rubberstamping strained market activity at the Nairobi Securities Exchange (NSE).

A KCB weekly capital report indicates the NSE All-Share Index gained 0.9 per cent, while the NSE 20 shed 0.8 per cent in the week.

Foreigners dominated NSE activity as Equity Group, Safaricom and East African Breweries Ltd (EABL) came top among the gainers buoyed by “promising liquidity traits”.

Safaricom, KCB, Equity and EABL remained the four top traded counters, accounting for 91.5 per cent of the market turnover.

“Foreigners were net sellers, for the second consecutive week - with net outflows worth Sh1.2 billion, responsible for 69.2 per cent of market activity, compared to 62.4 per cent the previous week,” read the report.

Treasury Bills were also oversubscribed during the week, with a subscription rate of 115.9 per cent as investors went all out. This was a huge recovery from an under-subscription of 72.1 per cent the previous week.

The 364-day paper was the most subscribed at 210.0 per cent as investors sought appropriate risk-adjusted returns, with the paper yielding eight per cent per annum. The issuer received Sh27.8 billion worth of bids, accepting Sh27.6 billion - acceptance rate of 99 per cent.

“Notably, yields on all three papers rose during the week. The Central Bank has reopened two bond issues, in addition to the tap sale for last month’s re-open, seeking to raise Sh60 billion,” noted the report.

In the secondary market, bond turnover declined 37.8 per cent to Sh7.5 billion, with trades across the spectrum.

Share this story
Daddy's Girl: Journey on being raised by single father
He says she will tell her own story. He wants to tell his, and that of his daughter.
I eagerly await my baby's first steps
Spina Bifida, and though rare in the general population, it is the most common neural tube defect in the world
.
RECOMMENDED NEWS

Feedback