Stock Market Report
On Wednesday, the Nairobi Securities Exchange remained relatively unchanged by the end of trading with the NASI and NSE 25 Share Index advancing 0.04% and 0.01% respectively to 4,153.10 and 144.78. The Benchmark NSE 20 Share Index slid by 0.40% to close at 3909.47 points compared to the previous day’s 3925.32 points as seen below;
Market activity however improved with the total number of shares traded increasing by 20.2% to 16.4m with a 14.9% corresponding increase in turnover to KES 484.5m (USD 4.6m). The volumes were pushed by KCB, Safaricom, Equity Bank and Uchumi which accounted for 13.56 Million shares traded, representing 82.68% of total. Foreign investors accounted for 74.88% of market trade with a net inflow.
Banking Sector
NSE Listed Banks exchanged 9.33 Million shares representing 56.93% of the day’s volume. KCB Group Holdings was the day’s biggest mover with 5.4Million shares changing hands at between Kes.42.25 and Kes.43.00. Equity Group Holdings declined to Kes.40.00, down from Kes.40.50 on a volume of 3Million shares. Co-op Bank moved 400,000 shares and closed at Kes.20.25. National Bank was on the wrong side losing 4.00% to close at KES 9.60.DTB and BBK dropped 0.95% and 0.49% respectively.
Kenya’s shilling
In 2016, the Kenya Shilling has been one of the most resilient currencies across the continent amid the growing impact of China’s slowdown & the effects on Africa.As at close of Wednesday, the KES has strengthened by 1.16% year-to-date. This week’s irrepresability could be attributed to central bank’s assurances over the weekend that it would offer liquidity to banks in need after Chase Bank was put in receivership last week. Early Trading on Wednesday, banks quoted the shilling at 101.10/20 against the US dollar.
Weekly 364, 182 Day T-Bill Rates
The weighted average yield on CBK’s 364-day Treasury bill fell to 11.791% from last week’s 11.869% while the yield on the 182-day T-bill climbed to 10.938% from last week’s 10.833% as seen from the table below.
