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Investors Urged To Buy NCBA Shares This Week

BY Soko Directory Team · August 7, 2023 10:08 am

KEY POINTS

Total market turnover dipped 90.4% w/w to KES 420Mn, down from KES 4.33Bn in the previous week. Foreigners’ turnover declined by 91.7% to KES 177.5Mn during the week.

Those wishing to buy shares this week have been urged to try NCBA Bank Kenya. Analysts from Genghis Capital say the bank’s shares are a BUY this week.

“This week we issue a BUY recommendation on NCBA Group. We view the Group’s sustained earnings momentum spilling over into 2H2023. We note the fast-evolving digital disbursements, cementing the firm’s leadership on the financial deepening front,” they said.

Related Content: 25 Reasons Why NCBA PLC Is A Good-Listed Brand On The NSE To Invest In As The Economy Recovers

The BUY this week is based on Five aspects:

  1. Strong Financial Performance: NCBA Bank of Kenya has consistently delivered strong financial results over the past few years, with impressive growth in its revenue and profitability.
  2. Robust Asset Base: With total assets of over Kshs. 600 billion, NCBA Bank of Kenya is one of the largest banks in the country.
  3. Wide Range of Products and Services: NCBA Bank of Kenya offers a diverse range of financial products and services, including personal banking, business banking, investment banking, and asset management.
  4. Innovative Solutions: The bank has been at the forefront of introducing innovative financial solutions to the market, such as mobile banking, online banking, and digital lending.
  5. Strong Corporate Governance: NCBA Bank of Kenya has a strong corporate governance framework, which ensures that it operates with integrity, transparency, and accountability.

Related Content: 10 Reasons Why NCBA Is The Bank To Watch In 2023

In other news, the select SSA markets (shown below) closed the week ended 4th August 2023 on a net bullish position. Ghana was the best-performing market printing a week-on-week (w/w) gain of 6.64%. Uganda, on the other hand, closed the week as the laggard, shedding 4.84% w/w.

Related Content: Dear Entrepreneur, Here’s Why Stock Market Is The Best Investment Opportunity For You

Mild cracks in the bear market cycle surfaced over the week ending 4th July 2023, as signaled by improvements in the NASI and NSE-20 indices w/w performance.

Total market turnover dipped 90.4% w/w to KES 420Mn, down from KES 4.33Bn in the previous week. Foreigners’ turnover declined by 91.7% to KES 177.5Mn during the week.

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Despite the declining foreigners’ participation levels, they remained bullish across key blue chips to print overall net inflows totaling KES 16.35Mn.

Related Content: The Stock Market Is Not For Everyone, Let Not Peer Pressure Lie To You

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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