The market is keenly awaiting OPEC later this week.
I think OPEC are blowing hot air and that crude oil will resume a precipitous slide from as early as the press conference.
The Shilling was last at 103.26 and as in fact a beacon of stability and low volatility in a volatile SSA currency environment.
The Nairobi All Share eased -0.06 points off a 6 month high to close at 140.77
The NSE20 rallied 21 points to close at a Fresh 9 month high of 3317.16
Equity turnover clocked 1.096b.
The market will retrace once the physical FY dividends are paid and the market turns ex-dividend.
Safaricom missed closing at 20.75 +1.22% by the tiniest of whiskers and closed unchanged at 20.50 with heavy duty volume action of 27.5m shares worth 570.044m traded. Safaricom sits +7.04% YTD and the first target is an all time high which is predicted and predictable.
Nation Media Group eased -0.89% off a 2017 high to close at 111.00 and traded 477,400 shares. NMG is +19.35% year to date.
Car and General reported a loss of 37.058m in its first half earnings release. Turnover expanded +8.056% to clock 5.187b. C&G spoke to ‘’devaluations across the region, there was an adverse forex movement of 83m’’ CarGen spoke of ‘’In Tanzania the economy is extremely challenging given current government reforms’’ and that ‘’due to ...restriction on bank financing resulting from the interest rate cap, volumes in our equipment businesses [generators, construction equipment, tractors and forklifts] declined’’ counter-intuitively. C&G traded 100 shares at 18.70, +10.00%.
Kenya Airways eased 5cents ahead of its Earnings Release later this week and closed at 6.45.
KCB rallied +1.98% to close at a fresh one year high of 38.50 and traded 4.702m shares worth 181.237m. KCB is +33.91% YTD.
Equity Group rallied +1.408% to score a fresh 2017 closing High of 36.00. Equity is +20.00% YTD.
Diamond Trust Bank rallied +2.20% to score a Fresh 2017 closing high of 139.00. DTB is +17.79% YTD.
Barclays Bank firmed +1.25% to close at 8.05 and had more than 6 Buyers for every Seller today signaling more upside traction.
Kenya Re rallied +2.577% to close at 19.90 and traded 1.308m shares.
Jubilee Holdings was traded sharply lower -9.27% to close at 450.00.
KenGen firmed +0.7% to close at 7.10 a Fresh 2017 high. KenGen traded 205,100 shares and had Buyers for 9x the volume traded. KenGen is +22.4% YTD and targets 8.00.
Aly-Khan is a financial analyst