Another week over with the bourse having captured strong gainers but more loosers. Liquidity is still quite high in the market as investors wait for slight slips and quickly take positions while those that already have positions are holding on and not letting go with the anticipation of further price appreciations.
Kenya Oil, which had nosedived to a Kshs. 100 low bounced back to close the week at Kshs. 120. ICDC Broke the Kshs. 300 level to hit a Kshs. 344 high while Kenya Power, currently trading cum-dividend, had slid down to a Kshs. 222 low over the week rallied to a Kshs. 271 close. EABL stirred up from its Kshs. 140 slump to close the week at Kshs. 153, while Kenya Airways has settled at the Kaha.130-133 range.
Housing Fiance had the highest slips over the week, down 15% and 11% respectively to wrap the week at Kshs. 47.25 and 16 in that order.
The bourse received one more good release over the week as Sasini unveiled an improved performance over the 9 months to 30th June 2006. The company captured a turnaround to Kshs. 29 mn pre-tax profit and attributed this to an increased productivity and improved prices at the auction. Diamond Trust also unveiled its rights issue plans subject to approval from shareholders and the CMA.
The money market side seems to be putting efforts towards pulling the funds to their end as KCB announced the slicing of their lending rates on a number of their products and this may see other banks cave in to pressure from their clients to follow suit. Treasury bill rates have also maintained an upward trend with this Thursday’s auction having pushed the 91 day bill rate to 6.69% and the 182 day to 8.246%.
Kenya Oil, which had nosedived to a Kshs. 100 low bounced back to close the week at Kshs. 120. ICDC Broke the Kshs. 300 level to hit a Kshs. 344 high while Kenya Power, currently trading cum-dividend, had slid down to a Kshs. 222 low over the week rallied to a Kshs. 271 close. EABL stirred up from its Kshs. 140 slump to close the week at Kshs. 153, while Kenya Airways has settled at the Kaha.130-133 range.
Housing Fiance had the highest slips over the week, down 15% and 11% respectively to wrap the week at Kshs. 47.25 and 16 in that order.
The bourse received one more good release over the week as Sasini unveiled an improved performance over the 9 months to 30th June 2006. The company captured a turnaround to Kshs. 29 mn pre-tax profit and attributed this to an increased productivity and improved prices at the auction. Diamond Trust also unveiled its rights issue plans subject to approval from shareholders and the CMA.
The money market side seems to be putting efforts towards pulling the funds to their end as KCB announced the slicing of their lending rates on a number of their products and this may see other banks cave in to pressure from their clients to follow suit. Treasury bill rates have also maintained an upward trend with this Thursday’s auction having pushed the 91 day bill rate to 6.69% and the 182 day to 8.246%.
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