NSE Nairobi

The Trading Room: Weekly Market Review.(Week 47)

On the trading week ended November 22nd. Global stocks turned bearish as news of trade optimism raised last week turned down with China terming the United States as the main barrier to international trade this year. The European equities on LSE moderately reacted to continuing electoral pressure by PM Boris Johnson.

During the week, Standard Chartered Bank of Kenya, NCBA Group (NIC & CBA Group) released their results. BOC Kenya Plc issued a profit warning, implying that the gas manufacturer might go back into the loss making period hitting on shareholder dividend payout.

On Saturday, The International Monetary Fund [IMF] released the much awaited report on Kenya’s economy as they arrange for a credit facility on the country, terming the economy as promising.

Moody’s Investors’ Service released a report on Kenya with caution on the high debt level faced by the Kenya Government. Moody’s noted that despite Kenya having a Stable outlook on credit issuance, the debt level was worrying.

Listed Stocks on the Nairobi Securities Exchange had a continued bear run from last week through out the week, closing lower as compared to last week on a continued profit taking spree. As the banking stocks look for new floor on prices, the stand of and volumes will most likely be retained as foreigners maintain a net selling position.

The Nairobi Securities Exchange‘s trading week. Week on Week (w-o-w) turnover dropped by 7.41% to settle at KES 2.5 Billion against last weeks turnover of KES 2.7 Billion with an average daily turnover at 420 Million spread across the 5 day trading week against last week’s 460 Million.

Total Market Volume for the week stood at 77 Million shares against a volume of 86 Million shares transacted the previous week. The average daily volume stood at 12.3 Million against last week’s 13.8 Million with Tuesday having the lowest volume turnover of 6.8 Million shares.

The benchmark NSE All Share Index (NASI) closed Friday at 154.84, representing a week on week loss (W/W) of 0.73%, a 4-week month to month (M/M) gain of 3.03%, and an overall year-to-date (YTD) gain of 10.26%.

The NSE 25 Share Index (NSE25) closed Friday at 3842.81 points, which represented a w/w loss of 0.24%, a M/M gain of 6.87%, and an overall year-to-date (YTD) gain of 8.20%.

As profit taking continued, the NSE 20 share index was hit, closing the week at 2618.75 basis points.

The NSE 20 share Index (NSE20) closed at 2618.75 points; representing a w/w loss of 1.29%, a 4-week month to month (M/M) gain of 5.41% and a Year to date (YTD) loss of 7.59%.

NSE’s Derivatives Market (NEXT) closed the week with a total of 6 contracts traded valued at Kes 164,000 with the 19DEC19 Safaricom contracts traded 5 contracts valued at Kes 114,000. Overall, the derivatives segment had a decrease in value & activity as compared to the previous week of 22 contracts valued at Kes 830,000.

The NSE Bond market recorded reduced activity with 7 Billion worth of bonds transacting as compared to last week’s value of 14 Billion.

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