This week the Central Bank of Kenya offered 91-day Treasury Bills for a total of Kshs.3 Billion. The total number of bids received was 154 amounting to Kshs.2.14 Billion, representing a subscription of 71.42%. Total bids accepted amounted to Kshs.688.93 Million.The market weighted average rate was 14.243 %, and the weighted average of accepted bids which will be applied for non-competitive bids was 11.570% up from 11.539% in the previous auction.

91 day bill rate increased!

Bulls will cheer todays Price Move which was dynamic and aggressive to the Upside.

The Nairobi All Share surged +2.74% for its biggest session Gain of the Year. The All Share closed at 150.45. The Nairobi NSE20 ramped +64.39 points higher to close at 4415.09. Equity Turnover slipped to 469.833m versus 1.239b.

Next week is key if we gather momentum we might well have witnessed the bottom for 2015.

Interestingly we have seen very heavy duty volumes of late [not least the market has now absorbed the Helios LLP Equity shareholding] and there is a sense that the Sellers are now done at these levels.

The Shilling was trading in a solid manner at 101.10 [which is a Signifier of its own given the decision not to raise interest rates earlier in the week].

If the Shilling continues to hold below the 103.95 2015 Intra day Low from last month, we might see a move back below 100.00

However, external forces are buffeting EM and Frontier Currencies not least Janet Yellen's FED who are expected to raise US interest rates in September, which will potentially roil these currencies again.

FTSE KE NSE15 index posting a big intraday rally. Current gains stand at 4.64% as it tries to reclaim the 200 level handle. Half an hour before market close. On the daily chart this is going to be a bullish reversal as well as confirmed by the index vaulting above fibo resistance @196.65 with the pivot at 191.18.

I'll start keep track of mpesa bank going forward. This is the main peg that will determine how low the market tanks next!