The All Share Index (NASI) decreased by 6.2 % to close the week at 121.81,imilary to the NSE 20,it decreased by 3.0 % w-o-w to close the week at 1,626.81 Elsewhere, Equity turnover increased by 2.7 % to KES 2.12 billion, similar to the volume traded which increased by 43.4% to 21.08 million.
The downturn in the week is a reflection of the global situation owing to the effects of rising inflation, the European conflict and the latest Fed rate hike – local investors have been capitalizing on the attractive price points as well.
Foreign investors remained net sellers, recording net outflows of USD 11.9m, up 26%w-o-w . Safaricom led the selling charge while Centum led the buying charge. Foreign participation narrowed to 47.8% from 53%.
Elsewhere, the retail fuel prices have been revised upwards by the Energy and Petroleum Regulatory Authority (EPRA), with the government subsidy retained. Diesel, Super Petrol and Kerosene prices were increased by KES 9.00 per litre each. Diesel and Super Petrol in Nairobi are now retailing at KES 140 and KES 159.12 per litre respectively, the highest