The bottom has really give way!!!! Just when I think prices can’t go any lower, Surprise Surprise!!!! They shed another few points. Just today, out of 43 active counters, only 11 realized advances, while 28 edging downwards.
Kenya Airways which had hit a low of 100 on Friday aced up Kshs. 2 to close at 102, while Housing Finance which has recently brought to public attention its plans to raise funds through a rights issue edged up a paltry 25 cents to close at Kshs. 38. Keya Oil which on had on Friday slid below the Kshs. 100 mark to close at Kshs. 96 bounced back to close 50 cents shy of Kshs. 100.
CFC Bank which shot to a crazy Kshs. 900 after a cautionary announcement of negotiation talks between CFC and Stanbic, was the days largest looser, down 33 shillings to close at 299. It is rather apparent that a certain dealer is pushing it gradually down using 100 shares with every trade otherwise, the share would have remained quasi-suspended with no one ready to buy it at the Kshs. 368 close last week. CMC holdings which is currently trading cum split was dropped Kshs. 14 to close at 159, while Standard group, also having a corporate action riding on it, shed Kshs. 6.00 to close at Kshs. 62 cum bonus.
So some of us are waiting for the prices to hit the lowest possible prices before taking position while the wise ones are probably commencing their purchases gradually in order to be well positioned at the turnaround point
Kenya Airways which had hit a low of 100 on Friday aced up Kshs. 2 to close at 102, while Housing Finance which has recently brought to public attention its plans to raise funds through a rights issue edged up a paltry 25 cents to close at Kshs. 38. Keya Oil which on had on Friday slid below the Kshs. 100 mark to close at Kshs. 96 bounced back to close 50 cents shy of Kshs. 100.
CFC Bank which shot to a crazy Kshs. 900 after a cautionary announcement of negotiation talks between CFC and Stanbic, was the days largest looser, down 33 shillings to close at 299. It is rather apparent that a certain dealer is pushing it gradually down using 100 shares with every trade otherwise, the share would have remained quasi-suspended with no one ready to buy it at the Kshs. 368 close last week. CMC holdings which is currently trading cum split was dropped Kshs. 14 to close at 159, while Standard group, also having a corporate action riding on it, shed Kshs. 6.00 to close at Kshs. 62 cum bonus.
So some of us are waiting for the prices to hit the lowest possible prices before taking position while the wise ones are probably commencing their purchases gradually in order to be well positioned at the turnaround point
1 comment:
Concur with your last comment. I think by end of Feb, we'll start seeing a pick-up as investors start anticipating share price rises during the results period. I expect financials to shoot up as they'll have had another good yr.
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