THE Banking, Investment and Finance index fell by 2.23 per cent at the bourse while the underlying securities contributed about 82.11 per cent of total weekly turnover after CRDB contributed 56.14 per cent of the total weekly turnover, NMB contributed 18.54 per cent of the total weekly turnover and DSE contributed about 7.43 per cent of the total weekly turnover.
During the week DSEI dropped by 3.27 per cent as the result of the decrease in share price of CRDB, DSE, EABL, KA and KCB. TSI also declined by 0.43 per cent while other indices remained flat during the week.
In the coming week, we anticipate the performance to be maintained by the active local counters in terms of volume, turnover and price movements in the bourse.
On the industrial and allied segment, TPCC is anticipated to remain active during the week while in the banking, Finance and Investment index DSE and CRDB will maintain their activeness in the market with the decline in their share prices. Midweek we expect a Treasury bill auction held by the central bank.
The high appetite thrived during the last treasury bill auction held on 4th March 2020 especially in 364-days, with a high rate of oversubscription could possibly witness bids flooding for the auction and a decline in the WAY from 5.47 per cent of the previous auction.
Government securities yield curve may continue to remain normal and weighted average yields are expected to decline due to higher appetite of the government treasuries.
In the interbank money market, notwithstanding the increased in WAR during the week we anticipate that WAR to be within a range of 4.00 per cent to 4.21 per cent with slight volatility in the high and low rate.
Total market capitalization decreased by 3.27 per cent to 17.06tri/-from 16.51tri/-while domestic market capitalisation decreased by 0.43 per cent to 9.18tri/-from 9.22tri/-.
DSEI, TSI and B&F indices moved southwards by 3.27 per cent, 0.43 per cent and 2.23 per cent to 1,988.62 points, 3,498.94 points and 2,199.59 points respectively on the last day of the week.
This drop was contributed by share price decline of cross listed counters as follows: KA by 20 per cent to 40/-from 50/-, EABL dropped by 4.44 per cent to 4,300/- from 4,500/- and KCB which dropped by 8.93 per cent to 1,020/-from 1,120/-.For local listed companies, CRDB declined by 8.82 per cent to 155/-from 170/-and DSE declined by 1.11 per cent to […]