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.
World Bank Downgrades Kenya Growth Forecast to 4.7%, Cites Fiscal Spillages as Key Downside Risk. Fuel Stabilization Fund
Eases Price Pressure on Diesel & Kerosene as Landed Costs Edge Up
The market closed the week on a bullish note, with the NASI, N10, NSE 20, and NSE 25 gaining 3.4%w/w, 3.9%w/w,
2.7%w/w, and 3.4%w/w, respectively. Worth noting, the NSE 25 closed the week at the highest level since 15th September
2022. Similarly, the NASI clocked a 6-week inta-week high of 119.32 with the N10 closing the week at an all-time high of
1252.02.
MONEY MARKET ANALYSIS This week, the average lending rate eased to 11.80% from 11.91%, with the final day of the week driving the momentum, spurred by the downward adjustment of the benchmark rate. Meanwhile, interbank activity painted a picture of enhanced liquidity, as average volumes soared by 89.1% to KES 43.16bn from KES 22.83bn, mirroring…
SUMMARY TABLES – NSE PERFORMANCE Summary Trading Statistics Select African countries’ benchmark index dollar returns Read More:
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