NSE | AIB Axys May 2024 Stock Picks
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On a monthly perspective, the market indices recorded a downward trend with Nairobi All Share Index decreasing by 5.8% m/m.
Foreigners’ participation declined marginally to 53.0% of the total market activity.
On a monthly perspective, the market indices recorded a downward trend with Nairobi All Share Index decreasing by 5.8% m/m.
Foreigners’ participation declined marginally to 53.0% of the total market activity.
Global Macro Outlook - Global GDP growth slowed to 3.2% in 2023, down from 3.4% estimated a year prior. Growth was however, less-scarred than projected and more uneven across regions – exceeding expectations in some instances, despite several legacy shocks.
On a monthly perspective, the market indices recorded an upward trend with Nairobi All-Share Index increasing by 22.3% m/m.
Foreigners’ participation rose marginally to 61.0% of the total market activity.
Equity Group Holdings trailed below in-house expectations to record a surprise 5.1% y/y slump in net earnings to KES 43.74Bn throughout 2023. Growth momentum was grounded by a faster surge in pre-provision operating expenses compared to operating incomes.
Diamond Trust Bank clocked within in-house expectations to record a modest 14.7% y/y growth in net earnings to KES 7.79Bn throughout 2023. Performance was shaped by a sharper growth in pre-provision operating expenses compared to operating incomes.
I&M Group exceeded in-house expectation to record a modest 15.2% y/y growth in net earnings to KES 13.34Bn throughout 2023. Revenue growth was driven by accelerated customer growth across subsidiaries – prompting an upswing in both funded and non-funded incomes.