Shilling firm af­ter re­newed pres­sure

The Star (Kenya) - - News - ALY KHAN SATCHU Aly-Khan is a fi­nan­cial an­a­lyst

The Kenya Shilling traded a 101.689-102.240 range on Mon­day. The mar­ket tends to fo­cus on this pair but its worth con­sid­er­ing that against a bas­ket of cur­ren­cies – the Shilling has ap­pre­ci­ated quite con­sid­er­ably. The Nairobi All Share closed -0.53 points lower at 138.20. The Nairobi NSE20 In­dex ticked -7.31 points lower to close at 3283.94. Equity turnover was lack­adaisi­cal and clocked Sh294.313 mil­lion.

Sa­fari­com was the most ac­tively traded counter at the Nairobi Se­cu­ri­ties Ex­change and closed un­changed at Sh20.00 with 10.284 mil­lion shares worth Sh205.668 mil­lion (some 69.78 per cent of the to­tal vol­ume traded to­day) chang­ing hands. I look for­ward to host­ing the chief ex­ec­u­tive Bob Col­ly­more this Sat­ur­day from 0930am at the In­ter­Con­ti­nen­tal Ho­tel. All are wel­come. Sa­fari­com has been a bull out­lier for a num­ber of years and is +31.16 per cent on a to­tal re­turn ba­sis in 2016 vastly per­form­ing the All Share In­dex which is -4.76 per cent through this morn­ing. I am ex­pect­ing fresh all time highs be­fore year end.

WPP-Scan­group firmed +0.28 per cent to close at Sh18.10 and was trad­ing at ses­sion highs of Sh18.95 +4.99 per cent at the fin­ish, WPP-Scan­Group is -39.66 per cent through 2016.

The pres­i­den­tial spokesman Manoah Esip­isu MBS tweeted as fol­lows Sun­day af­ter­noon: ‘’The Cen­tral Bank of Kenya whose man­date it is to reg­u­late banks, is in full con­trol of the sit­u­a­tion and must be al­lowed to do its work.’’

‘’We are all aware of care­less and alarmist re­ports re­gard­ing the bank­ing in­dus­try ped­dled mainly in so­cial me­dia in the last cou­ple of days.’’

Fam­ily Bank urged its cus­tomers to ig­nore neg­a­tive state­ments and ma­li­cious ru­mours on so­cial me­dia that tried to de­pict it neg­a­tively. “The source of the ma­li­cious state­ment is un­der in­ves­ti­ga­tion by the direc­torate of Crim­i­nal In­ves­ti­ga­tions,” the state­ment read.

The StanLib Fa­hari IREIT ral­lied +8.73 per cent to close at 13.70 on the news that SBG Se­cu­ri­ties chief ex­ec­u­tive Nko­regamba Mwebesa was join­ing Stanlib Kenya, re­plac­ing James Mu­ratha who left in Au­gust.

The big banks are now pi­ra­nhas and the lit­tle ones tad­poles. Kenya Com­mer­cial Bank eased -0.69 per cent to close at Sh30.50, and traded 878,800 shares. KCB is -25.71 per cent in 2016 on a to­tal re­turn ba­sis in line with a bank­ing sec­tor which has been wrestling with some se­ri­ous head­winds.

Equity Bank eased -0.78 per cent to close at Sh31.75 and traded 545,400 shares. Equity is -15.62 per cent in 2016 on a to­tal re­turn ba­sis. KenolKo­bil ral­lied +3.6 per cent to close at a 2016 high of Sh12.95 and traded 229,900 shares.

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