Highlights After trailing behind the U.S. equity market in the past few years, European stocks are making a comeback having outperformed their U.S. peers so far. The European index was up 3.15% in the previous week boosting the year-to-date gains to 12.20% compared to just under 4% for the S&P 500. Hopes of an end…
Money Market Analysis In the money market, the interbank lending rate kept sliding as the impact of recent monetary action took shape. Banks lent to each other at an average of 10.5%, down 35.66bps from the previous week’s 10.9%. Meanwhile, trading activity picked up by 7.6% to KES 15.36bn from KES 14.29bn, signaling a liquidity…
Equity Market Commentary The market closed the week on a bullish note, with NASI and N10 gaining 1.1% w/w each and the NSE 20 and NSE 25 edging upwards by 1.3% w/w each. Market activity eased to USD 15.2m (-27.9% w/w). Safaricom dominated market activity accounting for 51. 3% of the week’s turnover. The counter’s…
Highlights Stock markets kicked off the week sharply lower after President Trump, in his usual unexpectedly expected fashion, stated that the U.S. would be implementing 25% tariffs on imports from the neighbouring Mexico and Canada, along with a 10% tariff on imports from China. However, the tariffs on Mexico and Canada were postponed by the…
Money Market Analysis In the money market, banks lent to each other at an average rate of 10.9%, representing a 32.61bps decline from the previous week’s average of 11.22%. This decline was primarily driven by the recent downward adjustment of the Central Bank Rate (CBR). However, trading activity slowed significantly, dropping by 35.8% to KES…
Equity Market Commentary The market closed the week on a bearish note, with NASI, N10, NSE 20, and NSE 25 declining by 3.2%w/w, 4.3%w/w, 1.1%w/w, and 3.7%w/w, respectively. Market activity declined to USD 17.35m (-6.3%w/w). Safaricom dominated market activity accounting for 51.7% of the week’s turnover. The counter’s price function eased by 9.0%w/w to KES…
MONEY MARKET ANALYSIS Liquidity conditions in the money market demonstrated notable stability over the week, with the average lending rate holding steady at 11.31%, unchanged from the previous week. Meanwhile, interbank trading activity softened, with transaction volumes declining by 22.6% to KES 23.14 billion, down from KES 29.92 billion. This dip coincided with a 30.91%…
EQUITY MARKET COMMENTARY The market closed the week in the green, with the NASI, N10, NSE 20, and NSE 25 up by 1.3%w/w, 3.0%w/w, 1.8%w/w, and 2.9%w/w, respectively. Market activity edged upwards to USD 18.52m (+30.9%w/w). Safaricom dominated market activity, accounting for 36.7% of the week’s turnover, with its price function advancing by 1.6%w/w to…
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…
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