The biggest value of the exits of Sh5 billion ($50 million) was in February this year followed by May at Sh4 billion ($40 million), an analysis by Standard Investment Bank (SIB) showed.
The foreign investor exits came with the loss of the market capitalisation and fall in the bench mark index.
The NSE 20 is down almost 100 points compared to the point at which it closed last year.
Foreign investor exits from the Nairobi Securities Exchange (NSE) in September was the third highest this year hitting a net of about Sh3 billion ($30 million).
The biggest value of the exits of Sh5 billion ($50 million) was in February this year followed by May at Sh4 billion ($40 million), an analysis by Standard Investment Bank (SIB) showed.
The foreign investor exits came with the loss of the market capitalisation and fall in the bench mark index.
In the year to date, shareholder wealth as represented by market cap is down 12.3 per cent while the NSE 20-share index is down 22.5 per cent during the same period.
The NSE 20 is down almost 100 points compared to the point at which it closed last year. NASI was also down 14.2 per cent while the NSE 25 declined 14.3 per cent.
The loss on the market cap was even higher at nearly Sh700 billion comparing the current value of Sh2.2 trillion and Sh2.9 trillion at its highest point on April 5.
SIB data shows that the largest net outflows were on the KCB #ticker:KCB share where nearly Sh2.4 billion exited, followed by Safaricom #ticker:SCOM and EABL #ticker:EABL with about Sh1.7 billion and Sh1.1 billion respectively in net cash out of the sales by foreigners.
As a result of the foreigner exits the three companies were also among the top four in terms of turnover during the month. Safaricom’s stood at just over Sh4 billion while that of KCB was about Sh2 billion.
That of EABL was about Sh1.1 billion. The Equity Bank #ticker:EQTY counter saw a turnover of just over Sh2.6 billion.
The biggest gainers during the month were Longhorn #ticker:LKL and Sanlam Kenya #ticker:PAFR at 10 per cent rise each, followed by Limuru Tea #ticker:LIMT and Crown Berger #ticker:BERG.
For Crown Berger and Scangroup #ticker:SCAN, foreign investors contributed to 51.3 and 59.3 per cent of the turnover, respectively.
Top losers were Kenya Orchards #ticker:ORCH which shaved off 82.9 per cent of its price in September followed by Deacons #ticker:DCON that lost 43.8 per cent and Uchumi #ticker:UCHM that shed 35.7 per cent during the month. Other major losers of the month were Mumias Sugar #ticker:MSC, NIC Bank #ticker:NIC, NSE and Eveready #ticker:EVRD that shed 26.7, 21, 20.1 and 20 per cent of their prices.
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