Full Bull Much like the year before – heading into 2024, many strategists doubted the market’s ability to keep moving higher after a strong 2023. Inflation was still high, the market was very top-heavy with most gains coming from the Magnificent Seven contingent of big tech stocks and the Federal Reserve had not yet indicated…
Money Market Analysis Liquidity conditions in the money market kicked off the year on a stable note with the average lending rate remaining relatively unchanged at 11.1%. Similarly, interbank volumes surged by more than half, recording a 52.3% jump to KES 34.58bn from KES 22.72bn, alongside a 15.0% increase in transaction count. The table below…
Equity Market Commentary The market closed the week on a mixed note, with the NASI and NSE 20 up by 0.9%w/w and 0.1% w/w while the N10 and NSE 25 eased by 0.5%w/w and 1.2%w/w.Market activity edged downwards to USD 14.15m (-34.0%w/w). Safaricom dominated market activity at 23.3% of the week’s turnover with its price…
Money Market Analysis Liquidity conditions in the money market kicked off the year on a stable note with the average lending rate remaining relatively unchanged at 11.1%. Similarly, interbank volumes surged by more than half, recording a 52.3% jump to KES 34.58bn from KES 22.72bn, alongside a 15.0% increase in transaction count. The table below…
EQUITY MARKET COMMENTARY The market closed the week on a bullish note, with the NASI, N10, NSE 20, and NSE 25 up 2.6%w/w, 0.2%w/w, 2.7%w/w, and 0.8%w/w, respectively. Market activity increased 5-fold to USD 21.46m (+408.6%w/w). Safaricom dominated market activity at 24.4% of the week’s turnover with its price function gaining 4.3%w/w to close at…
EXECUTIVE SUMMARY The Year in Review In what started as grumbles from the business community and the public about tax measures in the Finance Bill 2024, the concerns culminated into a full-fledged political tsunami which took away over half the cabinet in generational led economic protests and the bill ditched entirely. The year also saw…
SUMMARY TABLES – NSE PERFORMANCE Summary Trading Statistics Select Individual Company Performance Select African countries benchmark index dollar returns Read Full Report:
This week, the average lending rate eased further to 11.3% from 11.5%, reflecting the continued impact of December’s rate cut on monetary conditions. Meanwhile, interbank volumes took a significant hit, plunging by 38.2% to KES 33.58 billion from KES 54.36 billion, alongside a 35.7% drop in transaction count. The table below summarizes the market liquidity…
The market closed the week on a bullish note, with the NASI, N10, NSE 20, and NSE 25 gaining 2.2%w/w, 1.3%w/w, 1.5%w/w, and 1.5%w/w, respectively. Worth noting, the N10 extended its all-time high to 1,268.40. Market activity jumped 11-fold to USD 190.19m (+1168.4%w/w) driven by Bamburi’s block trade on Wednesday and Thursday worth USD 68.53m…
Listed banks in our coverage for the period 3Q24 exhibited mixed earnings performance as interest expenses persisted.
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