EQUITY MARKET COMMENTARY The market closed the week in the green, with the NASI and N10 advancing by 1.7%w/w. In addition, the NSE 20 and NSE 25 rose by 1.3% w/w and 1.4% w/w, respectively. Market activity eased by 29.2% w/w to USD 10.2m. Equity Group dominated market activity, accounting for 15.1% of the week’s…
EQUITY MARKET COMMENTARY The market closed the week on a mixed note, with the NASI advancing by 0.2%w/w. Conversely, the N10, NSE 20 and NSE 25 eased by 1.4% w/w, 0.3% w/w and 1.2% w/w, respectively. Market activity declined by 3.9% w/w to USD 14.5m. Safaricom dominated market activity, accounting for 35.4% of the week’s…
MONEY MARKET ANALYSIS Interbank lending reversed a one-month losing streak, recording a 28.1% increase in average traded volumes to KES 6.47bn, up from KES 5.05bn. This uptick was accompanied by a 40.0% rise in transaction count, indicating a more active interbank market compared to the previous week. Meanwhile, the average interbank rate remained relatively stable,…
Executive Summary We have updated our valuation for Safaricom with the fair value estimate for the GSM business coming in at KES 14.35 (down from KES 15.16 in FY24) while that of the financial services business comes in at KES 22.03 (up from KES 17.99 in FY24). Since surpassing the telecommunications business in 2019, the financial services division…
Highlights In the week, investors’ attention was turned to the U.S. 20-year Treasury bonds which had a weaker-than-expected auction pushing longer term yields higher and saw the 30-year yield hit its highest level since 2023, though Treasuries across most maturities recovered some ground by the end of the week. This volatility in the Treasury market sent U.S….
MONEY MARKET ANALYSIS Interbank lending extended its losing streak for the fourth straight week, with average traded volumes tumbling 32.6% to KES 5.05bn from KES 7.49bn. This was mirrored by a 41.2% drop in transaction count, pointing to a broad slowdown in market activity. Meanwhile, the average interbank rate held steady, inching up slightly to…
EQUITY MARKET COMMENTARY The market closed the week in the red, with the NASI, NSE 20, and NSE 25 retreating by 0.3% w/w each. Likewise, the N10 eased by 0.2% w/w. Market activity declined by 40.1% w/w to USD 15.0m. Safaricom dominated market activity, accounting for 21.1% of the week’s turnover. The counter’s price function…
MONEY MARKET ANALYSIS Interbank lending fell for the third consecutive week, with average traded volumes declining 23.6% to KES 7.49bn from KES 9.80bn in the previous week, despite a 13.3% rise the number of transactions. Meanwhile, the average interbank rate eased further to 9.85% from 9.91%, reflecting ongoing policy interventions by the CBK through open…
EQUITY MARKET COMMENTARY The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 rising by 5.8% w/w, 6.6% w/w, 4.1% w/w, and 5.7% w/w, respectively. Market activity advanced by 81.4% w/w to USD 25.1m. Safaricom dominated market activity, accounting for 42.9% of the week’s turnover. The counter’s price function gained…
Highlights: U.S stock indices finished the week narrowly lower despite increased prospects of tariff de-escalation and a semblance of light at the end of the tunnel with regards to trade policy uncertainty. The U.S. and the Uk announced the first new trade deal since the Trump administration’s reciprocal tariffs were unveiled on April 2, which…
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