Our focus today on Nairobi Securities Exchange stocks watch shall be on whole sectors and we will direct our attention towards the agricultural sector and the banking sector:
See a summary of yesterday’s share trading here.
- Agricultural Sector – This sector has in it agrarian-based counters such as Eaagads Ltd, Williamson Tea Kenya Ltd, Rea Vipingo and Sasini Ltd. In light of the recent demand of Kenyan tea, with its going price over KES 260, we shall be watching to see if investors will act in a speculative manner and cause share price fluctuation. The secondary aim of this watch is to check whether sector announcement have an effect on current market prices.
- Banking Sector – This sector includes all financial institutions that provide banking services. Included in the docket are Equity bank, NIC bank, Barclays Bank and others. There was a suggestion made last month by Governor of the Central Bank of Kenya, Mr. Ndungu that banks increase their deposit rates because the interest rate spread was too high. We shall be looking to see if this will have any effects on the bank counters as we wait to see if any action shall be taken by the commercial banks.