Morning Market Brief 16th November 2018

Trading Expectation:
We expect market activity to remain subdued with local investors taking a wait-and-see approach while foreign investors continue to trade low volumes on mainly index stocks. Activity is expect to still be concentrated on the key counters; Safaricom, Equity and KCB. On Safaricom, we see support at KES 24.0 while on KCB, some support is coming in at KES 38-KES 39 from the local desk, outweighing supply. The latter counter exuded more activity in the previous session which could be attributed to better-than-expected 3Q18 results.

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by Genghis Research