Equity Markets
Equity Market turnover in the day’s session was down by 28% to KES 546.58 Million. Volumes traded amounted to 22 million shares. A total of 1,367 deals were executed.
The benchmark NSE 20 Index closed up 20.16 points to close at 3,895.86 points. The NSE All Share Index was up by 0.20 points to close at 146.45 points.
Source: Bloomberg
Top Movers (Volume)
| Security | VWAP (24th May) | Volume (Shares) |
| Safaricom | 17.35 | 6,277,400 |
| Equity Group | 40.25 | 5,065,400 |
| KenGen | 6.50 | 1,073,400 |
| Centum Investment | 42.75 | 822,600 |
| Barclays Bank of Kenya | 10.20 | 770,200 |
Source: (NSE, Kenyan Wall Street)
Safaricom, Equity, EABL and Centum had net foreign buys. Overall, Foreign Activity accounted for 57.49% of the day’s trades with a net outflow.
Standard Chartered Q1 Results
Standard Chartered Bank of Kenya released their Q1 2016 results and we must say they were quite interesting.
Net Interest Income rose by 10.4% to KES 4.883 Billion compared to KES 4.423 Billion in a similar quarter the previous year. This was bolstered by a 6.7% increase in loans and advances and a 45.8% increase in government securities interest income.
Total Non-Funded Income grew by 66.2% y/y to KES 2.365 Billion, the surge was due to a 171.6% increase in Forex Trading Income which grew to KES 825 Million from KES 304 Million.
Total Operating Income stood at KES 7.248 Billion an increase of 24% compared to KES 5.846 Billion in a similar previous period.
Operating expenses increased slightly by 6.6% to KES 3.551 Billion.
Profit Before Tax stood at KES 3.697 Billion an increase of 46.9% y/y.
Earnings per share stood at KES 8.35
In the Markets Standard Chartered closed the session at KES 195.00. We expect some activity on the counter on the back of a better Q1 performance. Have a look at a 1 year chart below:
Source: Financial Times
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