Daily Market Brief
Stock prices were relatively stable with NSE 10 counter growing by 0.2% on average. NSE 20 and NSE 25 counters all rose marginally by 0.1% each while the banking sector improved by 0.2% as measured by the Banking Sector Index.
Shares traded shrunk by 25.0% from 28.60Mn to 21.44Mn shares constituting to the day’s turnover dipping by 43.5% to KES 479.84Mn.
Co-operative Bank was the top mover of the day with KES 112.31Mn in turnover after recently releasing its improved quarter 3 financials. Co-operative bank Group plc reported KES 30.03Bn profits before tax (PBT) for the three quarter, reflecting a 12.1% year on year (y-y) growth in comparison to KES 26.78Bn reported same period in 2024. The strong performance was occasioned by improved lending and a lower cost of financing the Bank’s asset books.
KenGen and BAT emerged 2nd and 3rd top movers with KES 74.26Mn and KES 45.35Mn in turnover respectively.
Foreign activities sunk from 24.1% to 8.0% with net foreign outflow reducing to KES 46.25Mn from 109.89Mn.
Secondary bonds’ turnover dwindled by 37.8% from KES11.65Bn to KES 7.25Bn while number of deals dropped by 25.4%. IFB1/2022/19 was the most traded paper despite its yield rising from 12.3869% to 12.5052%.
The Central Bank of Kenya re-opened two more papers for November’s primary auction, FXD3/2019/015 (8.7-years, 12.340% coupon) and FXD1/2022/025 (21.9-years, 14.188% coupon). CBK announced a Buyback offer for FXD1/2023/003 (6.7-Months – maturing on 11th May 2026) targeting to settle KES 30.00Bn out of the outstanding amount of KES 76.54Bn.
