On the trading week ending October 11,2019. Stocks rose globally on optimism that Chinese and U.S. officials made progress in negotiations that laid the groundwork for a truce on additional tariffs. Positive comments on the Brexit front added to the optimism, leading international developed-market stocks to record their biggest weekly rise in four months
Local Stocks on the Nairobi Securities Exchange had a bull run on optimism that the Kenyan legislature will support repeal of the law on interest cap after President Kenyatta sent a memorandum on the same to parliament on October 16th.
The Nairobi Securities Exchange‘s trading week. Week on Week (w-o-w) turnover rose by 48.57% to settle at KES 7.4 Billion against last weeks turnover of KES 4.02 Billion with an average daily turnover at 1.2 Billion spread across the 5 day trading week against last week’s 750 Million.
Total Market Volume for the week stood at 185Mn shares against a volume of 107Mn shares transacted the previous week. The average daily volume stood at 32Mn against last week’s 19.8Mn with Friday having the highest volume turnover of 57 Million shares.
The benchmark NSE All Share Index (NASI) closed Friday at 164.35, representing a week on week gain(W/W) of 9.36%, a 4-week month to month (M/M) gain of 12.37%, and an overall year-to-date (YTD) gain of 17.03%.
The NSE 25 Share Index (NSE25) closed Friday at 4080.98 points, which was a w/w gain of 3.92%, a M/M gain of 13.23%, and an overall year-to-date (YTD) gain of 14.91%.
The NSE 20 share Index (NSE20) closed at 2733.75 points; representing a w/w gain of 3.42%, a 4-week month to month (M/M) gain of 9.79% and a Year to date (YTD) loss of 3.53%.
The Derivatives Market(NEXT) of the NSE closed the week with a total of 38 contracts valued at Kes 1.3 Million; a considerable rise by value from the previous week of 10 contracts valued at Kes 39,000.
