Nairobi Securities Exchange
The Nairobi all-share index closed the previous trading session at 134.96, gaining 0.16%. The index has returned -18.92% year to date. The current 52-week range is 116.88 – 181.92.
The NSE 20 index closed yesterday’s trading session at 1737.96, down 1.12 points.
In the previous trading session, BK GROUP led the gainers at 9.86%, closing at KES30.65 per share, while NATION came last, shedding 3.91% and closing at KES17.20 per share
In today’s early morning trading session, BRIT leads the gainers at 5.86%. SMER has dropped 3.51% so far. KEGN leads the overall volume traded with 503,500 shares traded so far.
Global Markets
Asia
China has accounted for 84% of the world’s blockchain applications; The South China Morning Post reported a government official saying on Tuesday.
“[Blockchain] accelerates integration with the economy,” Deputy Director of the Ministry of Industry and Information Wang Jianwei said. Only 19 per cent of applications were approved, the report added, noting that Chinese citizens are prohibited by law from participating in leading blockchains – decentralised ledgers of transactions across a peer-to-peer network – overseas.
Three Chinese state oil refineries and a private refinery are considering increasing output by 10% in October as they expect foreign demand will be more robust.
Japan intervened to strengthen the yen for the first time in 24 years as a trio of European central banks raised interest rates, underlining the disruptive impact of inflation on currencies and monetary policy.
HSI rose 0.36% in yesterday’s trading session. HK50 fell 0.27%. Sensex rose 0.08%. Nifty gained 0.12%, closing the day at 17630.35. Tokyo’s Nikkei shed 0.22%.
Asian stocks open weak today. HSI is down 0.62%, and Nikkei is up 0.17% in the early morning trading session.
Europe
The head of the International Energy Agency has warned European countries against a scramble for energy security this winter that threatens to shatter EU unity and trigger social unrest. Fatih Birol, the IEA’s executive director, said he feared “a wild west scenario” if European countries restricted their trade or stopped collaborating with neighbours amid mounting anxieties about fuel shortages.
Hawkish EU member states are pushing for hard-hitting measures against Russia, including ejecting more banks from the Swift messaging network and banning diamond imports, as the bloc drafts a new round of sanctions over the Ukraine war.Countries including Poland and the Baltic states are demanding the new measures — which would also target luxury goods and Russia’s IT, cyber security and software industries.
Euro Stoxx 50 futures lost 0.14%. EU50 shed 0.15%. UK100 slid 0.23%. Dax index futures lost 0.01%. DE30 dropped 1.64%, closing the day at 404.33.
European stocks trade weak today. Euro Stoxx 50 up 0.09% pre-market. Dax index futures up 0.10% pre-market.
US
The major U.S. equity averages finished Thursday with further declines as investors continued to digest the implications of the latest Federal Reserve decision.
The Dow Jones attempted to recover from its early slide and showed gains into the final moments of trading. However, a late dip left the index lower at the close. Meanwhile, the S&P 500 and the Nasdaq closed solidly in the red as the prospects of an aggressive Fed sent rates surging.
House Democratic leadership releases framework for legislation to ban members of Congress from trading stocks.
SPX dropped 0.84%. QQQ fell 1.23%. DJI fell 0.35%. NDQ dropped 1.17%
US Futures trade lower ahead of the market open. S&P 500 E- mini futures trades at -0.11% today. NASDAQ 100 E-mini futures trades at -0.19% today.
Key Events Today
None
Earnings
None
Crypto
There is a confirmed bullish divergence on the BTC daily chart. BTC was rejected at the ten ema yesterday. It needs to break the daily ten ema to show strength. Selling momentum is decreasing on BTC. BTC double-bottomed on the four-hour and pumped, indicating a strong move up may be in the cards. The swing failure pattern observed on the four-hour chart supports the bullish narrative. BTC broke previous highs on the four-hour chart. It needs to hold the previous highs or form a higher low to show strength. A break of mini-range highs at $19700 will be a good sign for bulls. If BTC is rejected from range highs, the $18300 level should be observed.
ETH reclaimed previous lows. A reclaim of highs on the four-hour chart will be a sign of strength, mainly if ETH uses the highs as support. ETH is creating a massive bearish divergence on the four-hour chart, which might undo the potential bullish indicators.
There is potential bullish divergence on ETHBTC on the daily chart if ETHBTC forms a low at the current levels. If the bullish divergence is confirmed, alts will rally. ETHBTC four hour bullish divergence has played out strongly so far, which is a good sign for alts. ETHBTC needs to break previous highs at 0.71583 for a continuation to the upside.
USDT.D is currently testing support. If it breaks 7.28% and uses the level as resistance, the market will get some relief. Three drive bearish divergence confirmed on USDT.D daily chart—a good sign for bulls. An increase in selling momentum has been observed on USDT.D for the first time in ten days on the twelve-hour chart.
Key Resistance Levels
19696. Mini range high
20157 – 20232. Supply zone
20429. Daily level resistance
20883 – 21024. Resistance zone
22186 – 22565. Resistance zone
Key Support Levels
18990 – 18895. Support zone
18803 – 18758. Support zone
18330. Mini range lows
17554. Weekly level support
Commodities
Gold fell 0.08 points in yesterday’s trading session. Gold is currently trading -0.04% today
USOIL rose 0.58% in yesterday’s trading session. USOIL is currently trading -0.31% today
UKOIL shed 0.31% in yesterday’s session. UKOIL is currently trading -0.06% today
Currencies
EURUSD is down 0.10% in today’s trading session
USDJPY is down 0.05% in today’s trading session
GBPUSD is down 0.14% in today’s trading session
USDCHF is up 0.21% in today’s trading session
USDCAD is down 0.01% in today’s trading session
AUDUSD is down 0.37% in today’s trading session
NZDUSD is down 0.23% in today’s trading session
AUDJPY is down 0.48% in today’s trading session
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