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.
