The Trading Room: Weekly Market Review.(Week 45)
On the trading week ended November 8th,2019. Global stocks advanced on Monday as investors banked on the likelihood of stimulus measures from the Japan & European central banks to reverse slowing growth, while the pound hit a six-week low globally as Brexit news continue to trickle in, growing concerns of a choppy trading on wavering hopes for Britain’s ability to leave the European Union with a deal
Listed Stocks on the Nairobi Securities Exchange had a bull run at the beginning of the week but closed lower on Friday as profit taking kicked in after a two week rally, coming after Kenyan legislatures missed to overturn President Kenyatta’s memorandum on the Banking act 2016; on repeal of the law on interest capping.
The Nairobi Securities Exchange‘s trading week. Week on Week (w-o-w) turnover dropped by 18.92% to settle at KES 6.0 Billion against last weeks turnover of KES 7.4 Billion with an average daily turnover at 900 Million spread across the 5 day trading week against last week’s 1.2 Billion.
Total Market Volume for the week stood at 178Mn shares against a volume of 185Mn shares transacted the previous week. The average daily volume stood at 24Mn against last week’s 32Mn with Friday having the lowest volume turnover of 10.2Million shares.
The benchmark NSE All Share Index (NASI) closed Friday at 160.99, representing a week on week loss (W/W) of 2.04%, a 4-week month to month (M/M) gain of 9.55%, and an overall year-to-date (YTD) gain of 14.64%.
The NSE 25 Share Index (NSE25) closed Friday at 3957.43 points, which represented a w/w loss of 3.03%, a M/M gain of 14.00%, and an overall year-to-date (YTD) gain of 11.43%. The NSE 20 share Index (NSE20) closed at 2717.86 points; representing a w/w loss of 0.58%, a 4-week month to month (M/M) gain of 11.73% and a Year to date (YTD) loss of 4.09%. The Derivatives Market(NEXT) of the NSE closed the week with a total of 21 contracts valued at Kes 756,000; a drop in value from the previous week of 38 contracts valued at Kes 1.3 Million.