The secondary Bond market at the Nairobi Securities Exchange recorded a rise in activity with bonds worth Kes 2.0 Billion trading in 144 deals,
Home2020April 2020 - The Trading Room
The National Bank of Rwanda (BNR) has cut the Central Bank Rate (CBR) from 5% to 4.5% to support commercial banks to continue financing the economy following recent negative economic developments caused by the COVID-19 pandemic. The decision was made by the Monetary Policy Committee (MPC) on April 29, 2020 that had met to assess recent economic developments at global and national level. The meeting was held amidst global economic challenges caused by the pandemic...
Gold demand will continue to feel the effects of COVID-19 for the rest of 2020. In particular, the divergence between investment in gold-backed ETFs and consumers via jewelry will likely continue until there is greater economic and market certainty
That brings the total easing since November to 200 basis points, with the rate now the lowest since September 2011
The Derivatives market of the NSE had one contract concluded in today's trading session implying a turnover of Kes 14,000 . The East African Breweries Contract expiring on 18th June,2020 was concluded at a price of Kes 140.00.
Safaricom’s board has recommended a Kes.1.40 dividend pay out to shareholders up from Kes.1.25 last year from an earnings per share (EPS) of Kes.1.84.
The dollar dropped against a basket of peers. The dollar index fell 0.247%, with the euro up 0.08% to $1.0837. The Japanese yen strengthened 0.38% versus the greenback at 106.86 per dollar, while sterling
While the market is being hit by financial flows, Russia warned that there will be no quick fix to low prices. The nation’s energy minister, Alexander Novak said Tuesday that the oil market may only start to rebalance in the second half. Prior to the output cuts, which begin on May 1, supply from the Organization of Petroleum Exporting Countries climbed to over 31 million barrels a day, according to Geneva-based tanker tacker Petro-Logistics.
MansaX successfully delivered one of the highest returns in the market in Q1’2020 with an annualized return of 24.45% outperforming the Nairobi bourse index, which posted a negative 25.6% return as foreign investors fled the equities markets across the globe
Safaricom was the day's top mover, with 5.8 Million shares exchanging hands followed by Bank of Kigali Group
While data is beginning to highlight the impact coronavirus has had on economies, markets have been buoyed in recent days by news that some of the worst-hit countries are finally seeing infection and death rates slow to levels not seen for a month.
The Dow Jones Industrial Average rose 358.51 points, or 1.51%, to 24,133.78, the S&P 500 gained 41.74 points, or 1.47%, to 2,878.48 and the Nasdaq Composite added 95.64 points, or 1.11%, to 8,730.16. The pan-European STOXX 600 index rose 1.77% and MSCI's gauge of stocks across the globe gained 1.76%.
KCB Group Plc moved 2.4 Millon shares on it's books closure date. KCB Will pay a dividend of Kes 2.50 to all investors who held the shares as at close of trading in today's trading session.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1% in early trade, having shed 2.6% last week. Japan's Nikkei gained 1.1%, while E-Mini futures for the S&P 500 dipped 0.4%
The Nairobi Securities Exchange closed the week on a high note with 134 Million shares valued at Kes.4.3 Billion against the 79.8 Million shares valued at Kes.2.38 Billion transacted the previous week. The NSE 20 share index was down 5.98 points to close at 1967.84 basis points. The NSE All Share Index (NASI shed 0.15 points to settle at 135.78. The NSE 25 Share index was up 30.30 points to stand at 3175.45.
The sharp downward revision is driven by a massive decline in Asian economies, led by China and India which are slated to post sub-1 per cent growth this year.
The derivatives market remained flat with no contracts concluded in today’s trading session.
Stocks across Asia-Pacific fell after a potential antiviral drug to treat coronavirus flopped in its first clinical trial, dashing investors’ hopes for a medical solution to the pandemic.
Bonds worth Kes 1.40 Billion were traded in 97 deals in today's reading session on the Nairobi Securities Exchange.
Kenya Airways' share price Wednesday dropped below the Kes1 mark to trade at Kes 0.97 at the Nairobi Securities Exchange
Crude has been pummelled in recent days on concerns that there is not enough space around the world to store the growing oil glut
The secondary Bond market at the Nairobi Securities Exchange recorded an increase in activity with bonds worth Kes 2.19 Billion trading in 81 deals, as compared to yesterday’s turnover of Kes 2.06 Billion which was achieved in 72 deals
Frontier markets had a good day in turn as global Investors looked out to them for hedging against their markets. Turnover of the Nairobi Securities exchange hit past the 1 Billion mark for the first time this month.
The country’s third largest bank by assets had been set to pay the dividend to shareholders on the books on April 23.
The Derivatives market of the NSE (NEXT) had the first trades of the week with with 3 contracts worth Kes 98,500 concluded in today's session.
The challenge of identifying which assets will lead the rebound from the virus turmoil is the major debating point as countries around the world achieve some success in limiting the spread of the pandemic.
Demand for energy collapsed in the U.S and most heavy users of oil globally and traders don’t want to get stuck owning crude with nowhere to store it.
Investors should confirm the licensing status of any firms offering services in the capital markets industry with the Authority. CMA has also noted that some of unlicensed and unapproved entities are pitching investment opportunities in disguise as licensed entities.
A total of 19,230,500 shares in 917 deals, corresponding to a market value of KES 517,725,408.00, were traded in today's session.
Nation Media Group has announced a payment of a bonus dividend which will be issued on a ratio of 1 share for every 10 held by investors.
There is not much expectation about the current quarterly earnings season and the disappointment seems to be already factored into the stock prices. Markets will watch out for management commentary regarding the business outlook and earnings guidance.
The spot market remains volatile and will likely decline further without adequate measures by the government such as economic stimulus packages such as corporate tax incentives during this pandemic. The market will continue to be affected by the rising cases of Covid-19 in Kenya until such a time when investors shall have regained confidence that the curve is flattening.
The Derivatives Market of the NSE closed the last week day of trading with no contracts concluded on the exchange.
The local market seems to have run out of purchasing power, or are waiting for even lower prices as we presume, as they hold low counteractive measures against the foreign investors. Earlier in the month, locals had implemented a defensive approach on the market which prevented a further shock after markets declined, pushing the NSE20 to all time lows.
The rand has slumped 25% against the dollar this year, compared with the lira’s 14% decline. South Africa’s currency has been hit by a credit downgrade to junk, a slump in commodity prices and the spread of the coronavirus. While Turkish state lenders have been selling billions of dollars to help prop up the lira, South Africa’s authorities don’t intervene in the currency market.
Trading activities on secondary Bond market at the Nairobi Securities Exchange doubled with bonds worth Kes 1.88 Billion trading in 77 deals, an 88.7% growth as compared to yesterday’s turnover of Kes 996.18 Million which was achieved in 25 deals.
Kenyan government has less fiscal room to support the economy compared to many of its peers and the country's credit profile would weaken if a wider fiscal deficit increases the debt-GDP ratio.
The derivatives market of the Nairobi Securities Exchange (NEXT) closed today's session with 6 single stock futures concluded in today's trading session,implying a turnover of Kes 104,000. There were the first trades on the derivatives market this week.
China moved again to cushion its economy, cutting a key medium-term interest rate to record lows and paving the way for a similar reduction in benchmark loan rates.
Trading activities on secondary Bond market at the Nairobi Securities Exchange opened the week with a rise in activities, with bonds worth Kes 1.88 Billion transacted in 25 deals, as compared to Thursday’s turnover of Kes 536 Million which was achieved in 100 deals.
Analysts estimate that 76 of the world’s poorest nations, which are eligible to receive the bank’s International Development Association (IDA) funding, are due to make repayments of about $40bn to external creditors this year. Of this total, repayments to the IMF, World Bank and other multilateral lenders are estimated to represent about $13bn.
As losers & gainers continue to emerge, Safaricom still takes the lead in firms gaining ground during this pandemic. The company's Chief Executive Peter Ndegwa said their home fiber service reported a 40 percent traffic surge as customers, staying at home to avoid Covid-19 infections, take solace in online movies and social media.
The major Asia-Pacific stock indexes are trading lower on Monday as traders digest the OPEC+ production cut deal and the latest news about the coronavirus pandemic. Volume is light with most of the world coming off a long holiday weekend. Markets in Hong Kong and Australia are also closed for Easter Monday.
The world’s top oil producers pulled off a historic deal to cut global crude output and put an end to a devastating price war. After a week-long marathon of bilateral talks and four days of video conferences with government ministers from around the world
All the key indices of the market declined at the close of Thursday's session, an indication that stocks, despite the price movements continued to have a decline week on week.
These regulations will see CMA facilitate the licensing of commodity exchanges, commodity brokers and approval of clearing houses. The regulations further provide for the governance, trading and conduct of business of commodity exchanges and commodity brokers, including the disclosure, compliance and reporting requirements.
The rating action follows the downgrade of the bank's ultimate parent, South Africa-based Standard Bank Group Limited (SBG), to 'BB'/Negative from 'BB+/Negative'
CDSC will test its its proposed screen-based Securities Lending and Borrowing (SLB) platform for a period of five months on CMA's regulatory sandbox.
Most markets will be closed for Good Friday today and will resume trading on Tuesday. U.S markets as the tradition, will be closed today but will resume trading on Monday.
The derivatives market of the Nairobi Securities Exchange (NEXT) closed the last trading day of the week flat with no contracts concluded on the exchange.
AfricaAfrica Set To Tip Into its First Recession For 25 Years Due to the Covid-19 outbreak – World Bank
244 min
World Bank is deploying up to $160 billion in financial support for developing countries over the next 15 months to help protect the poor and support businesses. On Wednesday the African Development Bank said it will be provide up to $10 billion to African governments and the private sector under a new Covid-19 Response Facility.
Absa Bank Kenya will cease to transact as an authorized foreign exchange dealer in the Kenyan market from Thursday, April 9, 2020, to Wednesday, April 15, 2020
The banking stocks are one of the most hit in Nairobi as stocks plummeted and have been struggling to remain stable. Co-op bank which closes it's books in a week's time has been seen as a gainer but there's a likelihood it will fall back after books close.
Fitch expects Kenya's general government debt to continue rising through FY22 to reach about 70% of GDP. This is higher than our pre-coronavirus forecasts, which saw debt peaking at 65% of GDP. As domestic Treasury auctions are typically undersold, much of the increased borrowing in FY21 and FY22 will have to come from external sources, leading to an increase in Kenya's external debt, which is already high compared with 'B' rated peers.
Trading activities on secondary Bond market at the Nairobi Securities Exchange edged higher, closing the day with bonds worth Kes 1.12 Billion trading in 118 deals, as compared to yesterday’s turnover of Kes Kes 461.4 Million which was achieved in 135 deals.
On performance of global markets, Asian stocks stepped back early Wednesday after two sessions of sharp gains as investors turned wary on getting too optimistic about the coronavirus while death tolls were still mounting across the globe. Not helping sentiment was wild volatility in the oil market, where prices rebounded in early Asia after sliding on Tuesday leaving traders dizzy.
Increased market activities on the NSE saw the market turnover rise by 24% to settle at Kes. 782.7 Million against yesterday's turnover of 631 Million.
As we hold on to hope for this too to pass, there is nothing better than being on the list of those who not just made it out unscathed but those who also took advantage of the opportunities lurking beneath the madness.
Early Tuesday data on Asian markets showed that Asian stocks headed for their first back-to-back gain in two weeks on continuing optimism that the deadly coronavirus outbreak may be waning in some key epicenters
Trading activities on secondary Bond market at the Nairobi Securities Exchange recorded a growth in activities with bonds worth Kes 1.91 Billion trading in 92 deals, as compared to Friday's turnover of Kes 855.5 Million which was achieved in 61 deals.
Despite the ever-continuing fear and uncertainty over the COVID-19 pandemic, all global, emerging and frontier markets, including Kenya, have shown some possibilities of arresting the downside, or that of a measured technical pullback as they stand miserably oversold.
FeaturedCapital Markets Stakeholders Announce Measures to Mitigate Adverse effects of COVID-19
6311 min
Given the need to postpone AGMs, to help eligible shareholders access dividends during these difficult circumstances, the respective Boards of issuers of securities have been allowed to proceed to declare and pay the dividends to their shareholders
Trading activities on secondary Bond market at the Nairobi Securities Exchange slumped with bonds worth Kes 855.5 Million trading in 61 deals, as compared to yesterday’s turnover of Kes 2.05 Billion which was achieved in 109 deals.
The international insurance business contributed 19 percent of the Group’s gross earned premium, thereby boosting profitably to the Group.
Investor EducationCMA Cautions Investors Against dealing with Unlicensed Online Forex Traders
2093 min
So far, CMA has issued three non-dealing online foreign exchange brokers licenses to EGM Securities Ltd, SCFM Limited, and Pepperstone Markets Kenya Ltd in line with the Capital Markets Act and the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017.
Stocks sank in Australia and Hong Kong, while South Korean shares fluctuated. Early gains in Japan gave way to losses, while S&P 500 futures fell about 1%.
Activity on the derivatives market of the Nairobi Securities Exchange [NEXT] grew exponentially with 14 contracts concluded in today's trading session, marking a turnover valued at Kes 390,600. The Safaricom contract expiring on 18-Jun-20 was the most traded contracts with 12 contracts traded
Wednesday’s cascade that sent technical analysts back to the charts in search of lines of defense that might emerge should the low be tested.
The secondary Bond market at the Nairobi Securities Exchange continued to experience a decline in deals and turnover, with bonds worth Kes 1.11 Billion trading in 66 deals, as compared to yesterday’s turnover of Kes 1.48 Billion which was achieved in 98 deals.
Peter Ndegwa is the third substantial chief executive of the company following in the footsteps of Joseph ( 2000-2010 ) and the late Collymore (November 2010-July 2019 ). He has a big shoe to fill owing to his predecessors’ success at the Nairobi Securities (NSE)-listed telco, which has remained a leading service provider, accounting for 64.8 per cent of mobile subscriptions in the country.
The trend could follow in emerging markets with a high exposure in India, South Africa and Nigeria. The European markets are faced with an increased volatility that could pour out into the local bourse as well. Yesterday, the United Kingdom reported its highest death-toll yet from the corona virus.
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