As elections nigh, the markets are becoming the best hunting ground for those deals that will have the best returns for the next five years. Question is, how do you spot that deal in the face of a negative stampede.
Equities trooped higher despite activity slowing by 38.0% on a turnover of KES 775Mn. Today, the major benchmarks clocked 11 successive trading sessions of gains, an indicator of a sustained bullish sentiment towards equities.
Once more, activity was diversified across Safaricom Ltd (NSE: SCOM), East African Breweries Ltd (NSE: EABL), Britam Holdings Plc (NSE: BRIT), KCB Group Ltd (NSE: KCB) and Kenya Reinsurance Ltd (NSE: KNRE). All the top traded counters closed higher during the session, with SCOM closing at a record high (KES 23.75).
Foreign investors were edged out by locals who controlled 70.6% of market, higher from the previous 43.2%. Top on foreigners picks was on EABL (sell), SCOM (buy) and KCB (buy), with an overall net buying position (6.7%, KES 15.3Mn).
Bond turnover closed 36.0% lower from the previous session at KES. 606Mn, on 33 deals compared to 33 (previously).
The tables below shows how the shares performed individually. Its a gold mine if you can see the deals, courtesy of Genghis Research.
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