• ASI +28bps, $20.3mill
• A large cross in Unilever ($7m) drove proceedings
We expect slow the market to be going ahead of the weekend in the absence of any market catalyst, save for the odd cross in a few select names.
• NSE20 +1bps, $8.1mill
• Foreigners continued to dominate proceedings yesterday
The market is relatively quiet, but upbeat despite modest volumes noted in most of the large caps. Turnover is however boosted by a block trade of 7.2m shares of NSE, down 2.4% to KES 20.75- a foreign investor purchase and local selling, with buying interest seemingly continuing from the last two weeks. Safaricom was unchanged at 16.05 on 1.2m shares. Equity Bank was unchanged at KES 46.5 on 55,100 shares. Market is still digesting the impact of higher excise taxes announced on beer, cigarettes and fossil fuels after yesterday's budget. From, the Cabinet Secretary comments; alcoholic beverage increase seems moderate while the cigarette tax increase component could be very high, although no numbers were provided. BAT Kenya separately got a stay on new tough rules for the tobacco sector over Constitutionality, with the Court staying implementation until the case to be heard and determined. Capital gains tax of 5% has now been replaced by a transactions tax of 0.3%.
• DCI unch, $791k
• Semdex +8bps, $1.2mill
• Ind -1bps, $537k
Country |
Notation |
Currency |
YTD % |
South Africa |
ZAR |
12.36 |
-6.47 |
Nigeria |
NGN |
198.85 |
-7.74 |
Kenya |
KES |
97.15 |
-6.74 |
Mauritius |
MUR |
35.00 |
-9.29 |
Botswana |
BWP |
9.96 |
-4.57 |
Tanzania |
TZS |
2193.00 |
-20.98 |
Uganda |
UGX |
3137.00 |
-11.67 |
Rwanda |
RWF |
710.50 |
-2.91 |
Ghana |
GHS |
4.23 |
-24.07 |
BRVM |
XOF |
586.61 |
-7.68 |
Egypt |
EGP |
7.63 |
-6.27 |
Morocco |
MAD |
9.71 |
-6.30 |
Tunisia |
TND |
1.94 |
-3.88 |