Genghis Weekly Strategy - 23rd September 2019
In this week's edition of the Weekly Strategy Report, we give a recap of the equities and fixed income markets' performance over the past week and our trading ideas for the coming week.
Our Momentum, Income and Value equities portfolios continue to outperform the benchmark index, NSE 20 YTD. Notably, the Momentum portfolio YTD performance is ahead of all the benchmark indices as well as the Zamara Index.
Genghis Trading Ideas for the week…
Equities
Accumulate EABL as it retraces below KES 200. At these levels, EABL has eroded the market premium it always maintains against peers despite maintaining its above average return on equity (ROE) of 82.8% and a dividend yield of 4.3%. Technical indicators also indicate slightly oversold levels at current price range which show fairly strong support levels at the KES 195 price level.
Fixed Income
WE are CONSTRUCTIVE on the short-end of the curve. We believe the sustained intervention by the apex bank to quell liquidity pressure has had a bearing on the upswing at the short-end of the curve. Investors who have cash positions can take advantage of the rising short-term yields.
Genghis Capital is an innovative and customer focused Investment Bank licensed by the Capital Markets Authority (CMA). Founded in 2008, Genghis is one of the leading investment banks in Kenya. Since its establishment, Genghis has achieved tremendous growth to offer a well-diversified portfolio of financial services that includes:
- i. Securities(Equity/Debt) Trading
- ii. Research
- iii. Wealth Management services
- iv. Investment Advisory & Management via the GenCap Unit Trusts
- v. Corporate Finance & Transaction Advisory services
The Kenyan Capital Markets continue to develop in size, scope and sophistication. With this is an increasing demand for more specialized and personalized brokerage service and we at Genghis Capital are glad to be able to offer you this service. Our strength lies in ensuring our clients are up to speed with developments at the stock market and the economy. Research and technology remains our competitive and comparative advantage hence Experience, Expertise and Professionalism are some of the qualities you can expect from our team.
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