91-Day T-Bill
The average yield on Kenya’s 91-day Treasury bills fell to 7.998% on Thursday’s auction compared to the previous week’s 8.189% . The Central bank received bids worth Ksh 7.29 Billion ($72.47 million) against the Ksh 4.00 Billion of bills offered. Only bids worth Ksh 4.80 Billion was accepted.
The Stock Market
Nairobi All Share Index(NASI) and NSE 20 Share Index gained by 0.40% and 0.06% respectively slightly pushed by Safaricom, Equity and Kenya Commercial Bank which traded 58.91% of the 19.11Million shares that exchanged exchanged hands.
Total volume dropped by 9.64% from 21.15 Million shares exchanged yesterday as turnover stood at KES 670.56Million up from 636.71Million, driven by EABL, Safaricom and Equity Bank.
Foreign investors were net sellers accounting for 78.8% of total market sales and 69.0% of total market purchases.
Market capitalization ended at KES 2.062Trillion from yesterday’s KES 2.054Trillion.
Major Updates;
Kenya’s Treasury said it is planning to table a second supplementary budget in Parliament worth Ksh7.2 billion to pay VAT refunds.
“We are coming up with modalities to extinguish the issue of value-added tax (VAT) refunds, which have been with us for a while,” Treasury Principal Secretary Kamau Thugge told the National Assembly committee on Finance, Planning and Trade told the MPs.
Upcoming Event;
Pan Africa Insurance AGM on Friday 20th May 2016
Click here to view Other Upcoming Events.
