The Weekly Wrap: Equity Turnover Up, Bond Turnover Down

Stock Market

Weekly equity turnover rose by 22.5 percent w-o-w to close at USD 7.87 million (1.00 billion shillings). The NSE 20 and NASI shed 1.3 percent and 0.2 percent w-o-w to close at 1,634.09 and 126.17 respectively.

Foreign investors assumed a net buying position by accounting for 28.1 percent of foreign sales and 38.2 percent of foreign purchases.

Fixed Income

Weekly bond turnover declined by 23.8 percent w-o-w to close at USD 74.16 million (9.46 billion shillings).

The 91-day t-bill yield, 182-day, and 364-day t-bill yields rose by 4 bps, 5 bps, and 1 bp w-o-w to close at 9.698, 10.165, and 10.690 percent respectively.

Macro Metrics

USD|KES: KES weakened by 0.9 percent w-o-w to close at 127.54 (-3.4 percent year-to-date).

FX Reserve: Import cover dropped by 3.9 percent w-o-w to close at 3.69 months (-11.5 percent year-to-date).

Upcoming Events          

13-Mar-23 – FXD1/2008/15 Bond Maturity (Coupon Rate: 12.500 percent).

13-Mar-23 – FXD1/2010/15 Coupon Payment (Coupon Rate: 10.250 percent).

13-Mar-23 – FXD1/2012/15 Coupon Payment (Coupon Rate: 11.000 percent).

13-Mar-23 – IFB1/2021/21 Coupon Payment (Coupon Rate: 12.737 percent).

Related Content: Most-Traded Currencies – An Overview

Kenyan Stock Market (Trading Multiples)

NSE Market Cap-weighted P/E stood at 10.5x (-2.5% YTD)

NSE Market Cap-weighted P/B stood at 4.7x (+4.7% YTD)

NSE Market Cap-weighted Dividend Yield stood at 7.6% (-4 bps YTD)

NSE Median Return on Equity (ROE) stood at 8.4% (+57 bps YTD