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Market Report – 15th January 2020


Faida Research - January 18, 2021 - 0 comments

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Market Commentary:

  • The All Share gained 2.6% w-o-w to close the week at 158.19 mainly attributed to price gains in Safaricom (62.0% of the week’s traded value). During the week, the counter recorded an all-time high of KES 37.00, closing the week KES 36.55 (+4.4% w-o-w ;YTD +6.7%).
  • The NSE 20 also edged up by 1.2% w-o-w to 1,919.70 as majority of the constituent counters recorded price gains notably: Bamburi (+15.1% to KES 45.10), Kenya Re (+6.5% to KES 2.64 ), Kengen (+4.3% to KES 4.80 ) and Equity (+2.5% to KES 36.90). Overall market turnover increased by 31.0% to KES 2.1 billion. In the coming week we expect to see some profit taking activity with overall market stability.

 

Recommendation:

LONG TERM BUY – KENGEN

HOLD – KENYA RE

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