The Nairobi Securities Exchange(NSE) Weekly Equities Turnover increased by 169.0% to KSh 1,582 million (US$ 11.3 million) from USD 4.2 million, recorded the previous week, taking the year to date turnover to US$ 464.7 million. Foreign investors remained Net buyers for a fourth consecutive week with a net buying position of US$ 1.5 million from a net buying position of US$ 1.1 million recorded the previous week, taking the year to date net selling position to US$ 254.7 million.
During the week, the equities market was on an upward trajectory, with NASI, NSE 20, and NSE 25 gaining by 4.1%, 2.7%, and 4.0%, respectively, taking the year to date performance to losses of 12.5%, 3.4%, and 9.6% for NASI, NSE 20, and NSE 25, respectively.
The equities market performance was mainly driven by gains recorded by large-cap stocks such as Safaricom, Equity Group, BAT and Bamburi of 8.0%, 4.6%, 4.1%, and 2.8%, respectively. The gains were, however, weighed down by losses recorded by stocks such as KCB Group of 0.5%.
According to the CBK weekly bulletin, total deals at the NSE were 5,707 with 73.62 million shares traded between June 30th and July 6th 2023. During this period, Equity turnover hit KSh 1,358.74 million while market capitalization increased to KSh 1,694.57 million. Turnover in the bonds market fell by 26.46% to KSh 11,656.83 million.
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