Movers & Shakers: January 03, 2014

Kenya: NSE 20 -0.20%, USD 4.1m

It was a better day in Nairobi in terms of activity today as value traded amounted to $4.1m, the market however continued to fall with the NSE 20 index falling 0.20%. Kenya Commercial Bank drove proceedings as 2.22m shares traded with foreigners dominating activity on both sides of the name. EABL managed to gain 1.4% as foreigners drove the name higher with 241k shares changing hands on the day. A large cross in Transcentury boosted activity in the name with the buyer being foreign while the seller was local. Foreigners also completely dominated activity in Equity Bank as 1.2m shares traded.

Nigeria: ASI +0.54%, USD 26.2m

The market managed to bounce back today thanks to a rally in Banking stocks with the Bank Index gaining +2.21%. It was a strong move higher in the Tier-1 banks that boosted the sector with the likes of Guaranty Trust Bank (+4.07%), ETI (+3.72%) and UBA (+2.51%) leading the charge. Consumers (+0.24%) were also stronger thanks to Dangote Sugar (+4.87%) and the brewers with IntBrew (+2.44%), Guinness (+0.81%) and Nigerian Breweries (+0.60%) all rallying. Oando once again lead in terms of activity with a massive 49.08m shares changing hands thanks to a few large crosses. Zenith Bank ($2.61m) and UBA ($2.14m) were also amongst the most active.

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