22 November 2012

Kenya: Safaricom Moving Towards the Sh5 IPO Price

The Nairobi all share rallied 0.54 points to close at 93.13. The all share is +36.895487% in 2012 and this is a fresh 17-month closing high. The Nairobi NSE20 firmed 13.49 points to close at 4171.87.

The NSE20 Index is +30.14% in 2012 and this is a fresh 21-month closing high. They say a bull market climbs a wall of worry and we have been in a bull market all year with seemingly nothing able to knock it back.

Yesterdays turnover was 593.405m. Safaricom has rallied 5.434% over the last two sessions and closed at a 25-month high and traded 5.00 into the closing bell a level not seen since August 2010.

In Agriculture:

Williamson Tea rallied by its daily limit of 10% to close at 220.00.

In Commercial and Services:

Safaricom rallied 2.105% to close at 4.85 which is a fresh 25-month closing high. Safaricom has rallied 5.434% over the last two sessions.

Safaricom traded 14.326m shares worth 69.533m and traded an intra-day high of 5.00 +5.26% in to the closing bell. Safaricom last traded 5.00 in August 2010. Safaricom is +71.8644% in 2012 and it is predicted and predictable that it will cross 5.00 imminently.

Uchumi rallied 1.291% to close at 19.60 and traded 1.485m shares worth 29.151m. Uchumi is 1.507% below a seven year closing high of 19.90 from October 16.

LongHorn Kenya was high ticked by 10% to close at 9.90 on 100 shares and the economic value of that transaction is $11 and 44 cents.

Among banks:

Kenya Commercial Bank traded second at the Exchange. KCB eased 0.826% to close at 30.00 [The Weighted Average was 30.20] and traded 3.683m shares worth 111.227m.

Equity Bank eased 1.02% to close at 24.25 and traded 4.586m shares worth 111.223m. Equity Bank is +53.495% in 2012 Standard Chartered firmed 1.2675% to close at 239.00 and traded 43,400 shares worth 10.408m.

Standard Chartered is +60.256% in 2012 and this is a fresh 18 month closing high. Diamond Trust rebounded 8.487% to close at 115.00 and traded 58,400 shares. COOP Bank improved 0.41% to close at 12.15 and traded 1.213m shares worth 14.739m.

City Trust traded 43,900 shares worth 15.716m all at 358.00 +0.85%. In Industrial and Allied EABL was the most actively traded share and closed at a weighted Average of 242.99 which was rounded down to 242.00.

EABL traded 507,300 shares worth 123.266m. Kenya Power KPLC bucked the bull trend and retreated 3.0555% to close at 17.45 and traded 1.504m shares worth 26.284m.

Mumias Sugar rallied 2.6775% to close at 5.75 and traded 2.469m shares. Mumias Sugar trades on a trailing PE of 4.371 which is a steep discount to the market average and bargain hunters are evidently stepping in. Bamburi Cement firmed 1.71% to close at 179.00 and traded 63,900 shares. BAT firmed 2.043% to close at 449.00 and traded 16,500 shares.

Copyright © 2012 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.