On Wednesday, Riyadh Stock Exchange was elevated to the ninth largest exchange in the world after a successful listing of the world’s largest Oil Company. The listing of Saudi Aramco shares saw global investors shift to the Middle East amidst concerns of the Crown Prince limiting the number of foreign investors in the company.
Yesterday, The Sterling peaked at it’s highest in recent times and stocks on the London Stock Exchange rallied on announcement of the results of the just concluded elections of the United Kingdom which saw Boris Johnson’s conservative party retain most seats in the UK parliament.
The New York Stock Exchange and Nasdaq rallied to the highest during the week and further on Thursday shortly after President Trump tweeted that “China & the U.S were very close to signing a big deal.”
Locally, Safaricom released data which proving the success of Mobile Money as M-Shwari had lent Kes. 430 Billion in the past 7 years.The Nairobi Securities Exchange (NSE) joined the list of companies issuing a profit warning on Friday, indicating that the company’s net earnings for the year ending 31 December 2019 will decline by more than 25 percent.
Listed Stocks on the Nairobi Securities Exchange experienced moderate activity through the 4 day trading week, closing higher in volume and turnover as compared to last week. Increased Foreign interest and local participation in Safaricom, Equity Group and NCBA Group Plc saw the banking & Telco stocks close higher and account for close to 63% of the total market transactions. Safaricom & Equity Group Holdings Plc shares moved 42 Million & 22.3 Million shares during the week as interest on KCB lowered on the bourse. Next week’s activities are expected to be lower with sustained stability on prices as majority of the industry starts to break for the Christmas holidays.
The Nairobi Securities Exchange‘s trading week. Week on Week (w-o-w) turnover rose by 19.64% to settle at KES 3.35 Billion against last weeks turnover of KES 2.8 Billion with an average daily turnover at 650 Million spread across the 4 day trading week against last week’s 483.5 Million average.
Total Market recorded a 35.37% rise in Volumes traded week-on-week, with 111 Million shares exchanging hands against 82 Million shares transacted the previous week. The average daily volume stood at 19.6 Million against last week’s 14.5 Million with Friday having the highest volume turnover of 49 Million shares.
The benchmark NSE All Share Index (NASI) closed Friday at 160.52, representing a week on week gain (W/W) of 1.01%, a 4-week month to month (M/M) gain of 1.06%, and an overall year-to-date (YTD) gain of 14.31%.
The NSE 25 Share Index (NSE25) closed Friday at 3941.68 points, which represented a w/w loss of 0.11%, a M/M gain of 2.08%, and an overall year-to-date (YTD) gain of 10.98%.
The NSE 20 share Index (NSE20) closed at 2587.84 points; indicating a week- on-week loss of 1.19%, a 4-week month to month (M/M) loss of 2.53% and a Year to date (YTD) loss of 8.68%.
NSE’s Derivatives Market (NEXT) closed the week with a total of 10 contracts transacted valued at Kes 301,000, indicating a 1.35% increase in market activity as compared to the previous week of 8 contracts valued at Kes 297,000. This is expected to continue as market approaches the short contracts expiry date of December 19th.
The secondary Bond market at the NSE recorded reduced market activity with 3.0 Billion worth of bonds transacting as compared to last week’s value of 4.6 Billion.
