Genghis Cross-Asset Weekly Strategy - 31st August 2020
In this week's edition of the Weekly Cross-Asset Strategy Report, we give a recap of the equities, fixed income, currencies and derivatives 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 NSE 20 index. Performance of the Momentum and Income portfolios is ahead of all the benchmark indices including the Nairobi All Share Index (NASI) and Zamara Index.
Genghis Trading Ideas for the week…
Equities
Maintain TAKE PROFIT on Safaricom after hitting key price level (KES 30)
As previously anticipated, Safaricom’s price extended its rally last week to KES 30 and we expect profit taking investors to come in. The stock has been locked within a tight trading range in recent months, oscillating between KES 30 and KES 27, both acting as resistance and support levels, respectively.
Fixed Income
BUY IFB1/2020/11 at 11.15% - 11.20% levels
In line with our expectations, secondary market activity was saturated on the recently issued infrastructure bond paper. We expect activity to remain heavy in this paper in the course of this week. Furthermore, the expectations of a longer-dated maturity as next month’s primary issue means investor interest will crowd to this relatively liquid paper.
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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