Overview:

The impressive performance displayed at the close of 2023, combined with a favourable investment climate in Kenya, an appreciating Kenyan shilling, and the resolution of uncertainties surrounding the Euro Bond, have paved the way for a daily surge in the Nairobi stock market.

The impressive performance displayed at the close of 2023, combined with a favourable investment climate in Kenya, an appreciating Kenyan shilling, and the resolution of uncertainties surrounding the Euro Bond, have paved the way for a daily surge in the Nairobi stock market. But the question arises – which stocks should you monitor for profitable investment?

Banks listed on the Nairobi Stock Exchange;

Absa Bank Kenya 

A stock that has experienced a significant price increase from a low of 10 KES per share to the current 14 KES per share within a short span of 6 months. This translates to a handsome capital gain of over 38%, a promising yield for potential investors.

KCB Bank

After weathering a storm of instability in the past six months, there is now a rising demand for KCB stock. From its previous low of 15 KES per share, KCB’s current trading value hovers around 24 KES per share, indicating an ongoing upward trend in the last 30 days. In the previous week alone, KCB Bank has seen a resounding increase of 15%, a rally that is projected to persist in the forthcoming weeks.

Equity Group PLC

In spite of discouraging reports emanating from Uganda concerning Equity Bank, the group’s stocks listed on the Nairobi Securities Exchange (NSE) have managed to maintain their upward trajectory in recent months. Equity shares have made a V-shaped recovery from a low of 34 KES per share six months ago to a current value of 42 KES per share. With an increasing number of bids surpassing asks on the market, Equity Bank’s stock is another promising option for prospective investors to keep an eye on.

Standard Chartered Bank Kenya concludes our list of high-performing stocks, demonstrating a notable increase in its share price over the last week. Escalating from a low of 162 KES to the present 185 KES per share, the bank has generated a capital gain of 13% for its shareholders. This substantial increase is propelled by the bank’s strong performance and the final dividend announcement for the year, making this stock a significant player to consider for investment.

Adapted from The K Financial’s Weekly Financial News Round-Up