Morning Market Brief 20th November 2018

Trading Expectation:
We expect low market activity to continue as foreign investors who have been the dominant traders, trade low volumes. Additionally, local investors are still out of the market, on a wait-and-see approach, starving the market of support as prices continue to fall across the market. We expect activity to remain on the key index counters; Safaricom, Equity and KCB. On Safaricom, we see support at KES 24.0 while on KCB, little support is coming in at KES 38-KES 39 from the local desk, outweighing supply.

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by Genghis Research