Safaricom Ksh 39 All-time High, Gains in the EABL and NSE Indices and Last Week’s Bond Tap Sale

Play episode
global markets update
In this Episode, Chief Financial Analyst Felix Ochieng discusses the Safaricom rally which saw the share hitting Ksh 39, a new all-time high, after the interim dividend announcement. The NSE all share index had a good week, gaining 4.4% in activity. NSE 20 and NSE 25 were also up gaining 1.28% and 3.87% respectively. The uptick in indices follows global trends where markets which had taken a toll are waking up. KCB, Equity and Safaricom all trading within the Ksh 35-40 range.
 
  • We are likely to see more price action on the positive edge on markets as we approach the earning period for most counters.¬†
  • Volatility on global markets is pushing activity in emerging markets, hence the uptick in foreign activity locally.
  • Faida issued a hold recommendation while Genghis Capital issued a buy recommendation for Kenya Re.

More from this show

Episode 19