2 April 2012

Kenya Commercial Dominates Trading At the NSE

The Kenya Shilling was last trading at 83.20. The recent slippage in the price of crude oil will be net supportive but more than that the arrival of the rains will keep the shilling at these levels or even a little stronger.

The Nairobi All Share eased 0.24 points to close at 73.24. The NSE20 eased 3.17 points to close at 3363.72. Market Cap was 937.801b versus 940.796b. Equity Turnover was 403.324m versus 232.261m. KCB traded had a banner session rallying 2.25 per cent on trade of 13.733m worth 315.232 which was 77.52 per cent of the value traded today. Kakuzi reported FY Results.


Kakuzi reported FY PAT 2011 + 65.797 per cent before the opening bell. Kakuzi is a tea avocadoes [Fuerte i believe] and pineapples estate on the thika road. They reported that turnover increased 12.4476 per cent to 2.376862b. Kakuzi firmed 2.58 per cent to close at 79.50 and has posted a 17.54 per cent 12 month return.

Commercial and Services

Safaricom shaved off 1.56 per cent to close at 3.15 and traded 12.749m shares worth 40.159m. Safaricom has closed its FY as of end of March. Safaricom had a tough first half. Kenya Airways firmed 0.3584 per cent to close at 14.00 and traded 99,700 shares. There has been a Trend Change in the News Flow. In particular, I cite the decision by Citibank [And this is optimal Risk Taking on Citibank's Part ] to underwrite the sale. The price is now underpinned and on fundamentals looks a ridiculously cheap one. The rights did not trade. Nation Media eased 0.6 per cent to close at 165.00 and traded 37,200 shares. Uchumi closed unchanged at 12.20.


Kenya Commercial Bank traded a banner session. KCB rallied 2.25 per cent to close at 22.75 which is a 2012 closing high. KCB has rallied 35.018 per cent in 2012 so far, admittedly it was emerging from a fat tail in Q4. KCB traded a 22.25-23.00 range and 13.733m shares worth 315.232m which is a Top 5 volume day over the last 10 Years. In fact, KCB in March saw its highest volumes in 10 Years. The cause and effect from the investor relations roadshow has been breathtaking. KCB traded 77.52 per cent of the volume at the exchange today. COOP Bank rallied 1.966 per cent to close at 12.95 and traded 536,500 shares. COOP Bank has posted a +5.714 per cent return year to date. Barclays Bank retreated 0.8298 per cent to close at 11.95 and traded 253,000 shares. Equity Bank closed unchanged at 19.25 and traded 300,400 shares. CFC Stanbic edged 0.6211 per cent lower to close at 40.00 and traded 4,300 shares. StanChart edged 1.724 per cent lower to close at 171.00 and traded 2,800 shares. DTB was low ticked 3.7433 per cent to close at 90.00 on just 100 shares. City Trust [which holds a position in I & M Bank] was marked limit down 9.638 per cent to close at 225.00 on 1,300 shares.

Industrial and Allied

Kenya Power closed unchanged at 14.30 with 829,800 shares worth 11.863m traded. KenGen closed unchanged at 7.25 and traded 118,600 shares. EABL eased 0.5 per cent to close at 201.00 and traded 31,000 shares.

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