Highlights U.S. equities ended the week lower, halting a 3-week streak of gains, after comments from Federal Reserve officials and upgraded second-quarter GDP growth tempered expectations for aggressive rate cuts. The Nasdaq Composite posted the steepest decline, down 0.50%, followed by the Russell 2000, which broke its streak of weekly gains since early August. Energy…
MONEY MARKET STATISTICS Interbank lending surged during the week, with the average traded volumes rising by 118.0% to KES 17.24bn, from KES 7.9bn the prior week. This is mirrored by a 121.4% increase in the transaction count, pointing to increased activity in the interbank market. The Kenya Shilling Overnight Interbank Average (KESONIA) inched upwards by…
EQUITY MARKET COMMENTARY The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 rising by 2.5% w/w, 3.7% w/w, 2.6% w/w, and 3.0% w/w, respectively. Market activity rose to USD 42.6m (+3.3% w/w). KCB Group dominated market activity, accounting for 53.8% of the week’s turnover. The counter’s price…
Highlights For a third consecutive week, U.S. equities as gauged by the S&P 500 delivered positive returns, rallying 1.22% and closing at new all-time-highs. Smaller companies outperformed, with the Russell 2000 rising 2.16%, while the tech-heavy Nasdaq Composite gained 2.21%. The central bank’s policy meeting concluded with a 25-basis-point rate cut, the first since December…
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…
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