Weekly Wrap Up: Turnover Dips 10%, Bonds Up 84%

Stock Market

Weekly equity turnover fell by 10.8 percent w-o-w to USD 20.62 MN (KES 2.49 BN) while the NSE 20 fell by 0.1 percent to close at 1,746.03 while NASI grew by 1.9 percent w-o-w to close at 134.86.

Foreign investors assumed a net selling position by accounting for 9.9 percent of total market purchases and 43.5 percent of total market sales.

Fixed Income

Weekly bond turnover grew by 84.5 percent w-o-w to close at USD 115.37 MN (KES 13.91 BN) while the FTSE Bond Index remained flat w-o-w to close at 94.70.

The 182-day rose by 1 bp w-o-w to close at 9.625 percent respectively while the 91-day and 364-day t-bill yields remained fairly constant at 8.951 percent and 9.909 percent w-o-w, respectively.

Macro Metrics

USD|KES: KES weakened by 0.1 percent w-o-w to close at 120.56 (-6.6 percent year-to-date). FX Reserve: Import cover grew by 1.0% to close at 4.24 months (-21.3% year-to-date).

Upcoming Events   

• 30-Sep-22 – BOC Kenya Book Closure (Interim: KES 1.60).
• 30-Sep-22 – NCBA Group Dividend Payment (Interim: KES 2.00).
• 10-Oct-22 – IFB1/2021/18 Coupon Payment (Coupon Rate: 12.67%).
• 10-Oct-22 – FXD1/2019/20 Coupon Payment (Coupon Rate: 12.87%).

Kenyan Stock Market

• NSE Market Cap-weighted P/E stood at 1.7x (-88.9% YTD)
• NSE Market Cap-weighted P/B stood at 5.1x (-27.7% YTD)
• NSE Market Cap-weighted Dividend Yield stood at 6.9% (+346 bps YTD)
• NSE Median Return on Equity (ROE) stood at 8.7% (+237 bps YTD)

Related Content: The Stock Market Challenge That Will See One Buy Shares Of A Listed Company