Weekly Market Wrap Up: How Mar The Markets Behaved

Stock Market

Weekly equity turnover fell by 52.5% w-o-w to USD 9.83 MN (KES 1.19 BN).

NSE 20 and NASI grew by 1.4% and 2.8% w-o-w to close at 1,700.22 and 129.90, respectively.

Foreign investors assumed a net buying position by accounting for 63.5% of total market purchases and 47.6% of total market sales.

Fixed Income

Weekly bond turnover rose by 5.4% w-o-w to close at USD 118.45 MN (KES 14.33 BN).

FTSE Bond Index remained flat w-o-w to close at 94.70.

The 91-day and the 182-day t-bill yield rose by 2 bps each w-o-w to close at 9.058% and 9.656% respectively while the 364-day t-bill yield rose by 1 bp w-o-w to close at 9.910%.

Macro Metrics

USD|KES: KES weakened by 0.1% w-o-w to close at 120.97 (-6.9% year-to-date).

FX Reserve: Import cover fell by 0.5% to close at 4.11 months (-23.7% year-to-date).

Upcoming Events          

17-Oct-22 – FXD1/2018/15 Coupon Payment (Coupon Rate: 12.75%).

17-Oct-22 – FXD2/2017/05 Bond Maturity (Coupon Rate: 12.52%).

17-Oct-22 – IFB1/2016/15 Coupon Payment (Coupon Rate: 12.00%)

22-Oct-22 – BOC Kenya Dividend Payment (Interim: KES 1.60).

Kenyan Stock Market

NSE Market Cap-weighted P/E stood at 2.4x (-83.5% YTD)

NSE Market Cap-weighted P/B stood at 4.9x (-30.5% YTD)

NSE Market Cap-weighted Dividend Yield stood at 7.1% (+370 bps YTD)

NSE Median Return on Equity (ROE) stood at 8.7% (+237 bps YTD)