20 September 2011

Kenya: NSE 20 Share Index Ends Two-Week Rally

The NSE20 eased 16.70 points to close at 3491.07. Since 6th September the Index has rallied 3.9916%. The Index remains -21.23% in 2011. The Nairobi All Share eased 0.21 points to close at 75.10. Market Cap was 946.882b versus 949.495b last time. Equity Turnover was a slow 127.994m as was Fridays session of 131.993m

Agriculture: Sasini firmed a further 1.13% to close at 13.40 and traded 93,300 shares. Sasini Tea has rallied a cumulative total of 30.09% since 6th September and just before the report about the conversion. Rea Vipingo rallied 3.6544% on news that a consortium was seeking to invest 20b shillings in sisal. Sisal prices are at record highs.

Commercial and Services: Safaricom firmed a further 1.59% to close at 3.20 and traded 7.236m shares worth 23.143m. Safaricom has

rallied 16.363% since 6th September after closing on that date at a 27 month closing low. The demand versus supply ratio reads 11 versus 5, which is also supportive. ScanGroup snapped back to close 3.77% higher at 41.25.

Kenya Airways retreated 3.2% to close at 30.25 and traded 58,20. shares. Kenya Airways has retreated 35.638% in 2011 and trades on a 3.95 Trailing PE. Uchumi eased back 1.76% to close at 8.35 and traded 28,300 shares.

Banks: KCB was the most actively traded counter at the Bourse. KCB turned 4.438% lower to close at 18.30 on 1.518m shares worth 27.784m. KCB trades on a 6.6304 Trailing PE and accelerated PAT H1 2011 some 41.5734%. This is surely as steep as the oversold position can get. Equity Bank eased 0.52% to close at 18.95 on 1.073m shares worth 20.346m. Equity Bank has rallied 7.06% since 8th September when it closed at 17.70 a 17 month closing low.

Barclays eased 0.42% to close at 11.90 on 554,800 shares worth 6.611m. Barclays Bank has retreated 17.188% in 2011. COOP Bank eased 0.6999% to close at 14.20 and traded 388,700 shares. StanChart improved a shilling and closed at 196.00 and traded 5,200 shares. CFC StanBic closed at 46.75 and traded 500 shares. Diamond Trust Bank eased 1.01% to close at 98.50 and traded 61,100 shares.

British American bounced 1.8691% to close at 5.45 and traded 560,100 shares. British American had fallen 40.555% through this morning and from its listing. Transcentury turned 0.826% higher to close at 30.50 and traded 40,900 shares.

Industrial and Allied: Kenya Power traded 4th on the same day it announced that it will raise the fuel surcharge levied on tariffs from next month. A legal notice in the Kenya Gazette said the fuel cost segment of power tariffs would rise by 22.4% to 8.2 shillings. Investors, took this as positive and firmed the price 0.79% to close at 19.10 and traded 705,400 shares worth 13.474m.

KenGen eased 0.5% to close at 9.95 on 48,600 shares and has slumped 41.47% in 2011, which represents nearly twice the rate of the Market. KenolKobil closed unchanged at 10.40 and traded 188,200 shares. EABL closed unchanged at 185.00 and traded 23,200 shares. Mumias Sugar eased 1.55% to close at 6.35 and traded 318,500 shares.

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