Equity Turnover Up 20% As Foreigners Sell

Stock Market

Weekly equity turnover grew by 20.0% w-o-w to USD 13.59 MN (KES 1.62 BN). NSE 20 and NASI went up by 1.5% and 0.7% w-o-w to close at 1,726.62 and 142.01 respectively.

Foreign investors assumed a net selling position by accounting for 43.6% of total market purchases and 75.4% of total market sales.

Fixed Income

Weekly bond turnover fell by 20.5% w-o-w to close at USD 159.74 MN (KES 19.02 BN). FTSE Bond Index remained flat w-o-w to close at 94.70.

The 91-day t-bill yield and the 182-day t-bill yield rose by 7 bps and 1 bp w-o-w to close at 8.473% and 9.400%, respectively, while the 364-day t-bill yield fell by 3 bps w-o-w to close at 9.920%.

Macro Metrics

USD|KES: KES weakened by 0.2% w-o-w to close at 119.09 (-5.3% year-to-date).

FX Reserve: Import cover dropped by 0.2% to close at 4.45 months (-17.4% year-to-date).

Upcoming Events   

12-Aug-22 – BAT Kenya Book Closure (Interim: KES 5.00).

15-Aug-22 – FXD1/2021/020 Coupon Payment (Coupon Rate: 13.44%).

15-Aug-22 – FXD3/2019/010 Coupon Payment (Coupon Rate: 11.52%).

15-Aug-22 – FXD1/2013/015 Coupon Payment (Coupon Rate: 11.25%).