Weekly Turnover Up 39% As Shilling Continues To Fall

Stock Market

Weekly equity turnover grew by 39.7 percent w-o-w to close at USD 15.43 million (1.83 billion shillings) while the NSE 20 and NASI shed  0.4 and 4.0 percent w-o-w to close at 1,676.51 and 136.57 respectively.

Foreign investors assumed a net selling position by accounting for 34.0 percent of total market purchases and 68.5 percent of total market sales.

Fixed Income

Weekly bond turnover advanced by 109.5 percent w-o-w to close at USD 126.20 million (14.96 billion shillings) while FTSE Bond Index remained flat w-o-w to close at 94.70.

The 91-day and 182-day rose by 7 bps and 9 bps to close at 8.322 and 9.393 percent respectively, while the 364-day t-bill yield fell by 2 bps w-o-w to close at 9.968 percent.

Macro Metrics

USD|KES: KES weakened by 0.3 percent w-o-w to close at 118.57 (-4.8 percent year-to-date).

FX Reserve: Import cover decreased by 2.8% w-o-w to close at 4.46 months (-17.3% year-to-date).

Upcoming Events     

• 25 Jul-22 – Jubilee Holdings  Dividend Payment (Final: KES 8.00).

• 25 Jul-22 – Jubilee Holdings  Dividend Payment (Special: KES 5.00).

• 25 Jul-22 – FXD2/2018/015  Coupon Payment (Coupon Rate: 13.20%).

• 25 Jul-22 – FXD1/2017/010   Coupon Payment (Coupon Rate: 12.97%).

Trading Multiples

Kenyan Stock Market

• NSE Market Cap-weighted P/E stood at 14.1x (-5.4% YTD)

• NSE Market Cap-weighted P/B stood at 5.5x (-21.8% YTD)

• NSE Market Cap-weighted Dividend Yield stood at 6.5% (+306 bps YTD)

• NSE Median Return on Equity (ROE) stood at 8.6% (+232 bps YTD)