Highlights Market bulls charged on in the week, with the U.S. S&P 500 index notching its fourth positive week of the past five weeks with a 1.59% gain while the tech-heavy Nasdaq Composite added 1.86% to mark its second consecutive week of gains. The Dow Jones Industrial Average, S&P 500 Index, and Nasdaq Composite all…
MONEY MARKET STATISTICS This week, the overnight interbank lending rate, now known as the Kenya Shilling Overnight Interbank Average (KESONIA), eased to an average of 9.46% from 9.54% the previous week. Interbank activity remained largely steady (+0.53% w/w), averaging KES 11.41bn against KES 11.35bn a week earlier. The slight increase was mirrored in a marginally…
EQUITY MARKET COMMENTARY The market closed the week in the green, with the NASI, N10, NSE 20 and NSE 25 rising by 0.2% w/w, 1.0% w/w, 1.7% w/w and 1.6% w/w, respectively. Market activity eased to USD 30.8m (-44.4% w/w). Safaricom dominated market activity, accounting for 22.1% of the week’s turnover. The counter’s price function…
Highlights U.S. markets as measured by the S&P 500 index reversed the previous week’s losses, gaining 0.33% in the holiday-shortened week. The tech-heavy Nasdaq Composite followed suit, gaining 1.01%—supported by shares of Apple and Google parent Alphabet, which both rose in the wake of an antitrust ruling that some investors viewed as less severe than…
MONEY MARKET STATISTICS This week, the Central Bank of Kenya began publishing the now formal risk-free rate — the Kenya Shilling Overnight Interbank Average (KESONIA). The average unsecured interbank lending rate eased to 9.52% from 9.56% the previous week, even as the apex bank sustained its liquidity mop-ups. Interbank activity slumped just 22% of the…
EQUITY MARKET COMMENTARY The market closed the week in the green, with the NASI, N10, NSE 20 and NSE 25 rising by 3.3% w/w, 2.9% w/w, 4.3% w/w and 2.5% w/w, respectively. Market activity rose to USD 55.3m (+135.2% w/w). Safaricom dominated market activity, accounting for 44.1% of the week’s turnover. The counter’s price function…
MONEY MARKET STATISTICS This week marks the start of a new phase in Kenya’s interbank market, driven by efforts to enhance transparency, reliability, and market confidence, while strengthening monetary policy transmission—a long-standing concern, particularly around private sector lending rates. That said, activity in the interbank market signaled liquidity strains for some players, with traded volumes,…
EQUITY MARKET COMMENTARY The market closed the week in the green, with the NSE 20 and NASI rising by 3.2% w/w and 1.5% w/w, respectively. In addition, the N10 and NSE 25 inched upwards by 1.4% w/w each. Market activity rose to USD 23.5m (+3.2% w/w). Safaricom dominated market activity, accounting for 45.9% of the…
Highlights In the previous week, the best day was saved for last. U.S. markets, as gauged by the S&P 500, were set to snap their two-week winning streak as at the close of trading on Thursday but Federal Reserve Chair Jerome Powell’s prepared remarks on Friday morning at a symposium in Jackson Hole, Wyoming, appeared…
MONEY MARKET STATISTICS Interbank lending volumes retreated to KES 6.20bn from KES 9.79bn over the week, in line with lower transaction activity. The average interbank rate eased to 9.45% from 9.53%, as monetary policy adjustments continue to transmit into the interbank market. The table below summarizes market liquidity indicators: Overall, activity in the interbank market…
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