Equities: Riding The Risk Appetite Wave

Kenya's Nairobi Stock Exchange-20 (NSE-20) equity index is currently in a five-month upward trend channel, and we believe that the gains have further to run. Since the market bottomed out at 2,360 in March 2009, it has risen by 39.6% to close at 3,295 on July 27. From a technical perspective, we are constructive and target 4,000 provided that trendline support at 3,250 is respected. As one of sub-Saharan Africa's largest and most liquid markets, the NSE-20 is in a good position to benefit from the ongoing surge in global risk appetite - especially since the Kenyan equity market is

To read the full article, please choose one of the following options: