The Star (Nairobi)

Kenya: Bullish Market Trend Seems Unstoppable

The Nairobi all share firmed 0.29 points to close at 93.47. The Nairobi all share has closed at a fresh 17 and a half month closing high and is +37.395% in 2012.

The NSE 20 index firmed 3.77 points to close at 4166.55 and has rallied 961 points and is +29.984% in 2012. This was a banner session with equity turnover of 1.088b shillings which ranks in the top ten for volume in 2012.

Safaricom traded 85.732m shares which is probably its busiest session in 2012 and closed at 5.00 a level last achieved in August 2010. Its been a bull market throughout 2012 and seemingly unstoppable.

In Commercial and Services

Safaricom saw outstanding and heavy volume and firmed 1.01% to close at 5.00 a closing level last achieved in August 2010. That makes this a 25-month closing high.

Safaricom traded 85.732m shares worth 428.59m which equated to 39.385% of the total volume during what was a banner session which totalled 1.088b Kenya Shillings.

Safaricom has rallied 12.359% since the release of first half earnings. At the closing bell, buyers remained at 5.00 and for size. Uchumi firmed 0.26% to close at 19.60 and traded 3.132m shares worth 61.391m.

Kenya Airways closed unchanged at 12.20 and traded 30,800 shares. The demise of JetLink is actually a salutary lesson for some of Kenya Airways' competitors and confirms that Kenya Airways has a proven franchise and that the competitor threat might be overcooked.

Nation Media closed 2.092% lower at 234.00 with 44,500 shares traded. It has enjoyed quite a Run up of late to 53 month highs and some evidently were tempted to bag their Gains. Standard Group firmed 1.0638% to close at 23.75 and The New Management are beginning to play some good Offence.

Among Banks

KCB closed unchanged at 30.00 and traded a 29.75-30.00 range and 5.497m shares worth 164.894m. Equity Bank rebounded 2.13% to close at 24.00 and was trading shares at 24.50 +4.26% and session highs into the Close. Equity Bank traded 4.103m shares worth 98.597m. Equity Bank is +51.975% on a Total Return Basis in 2012.

Barclays Bank eased 5 cents to close at 15.35 and traded 365,400 shares. CFC StanBic which reported strong quarter three numbers this week rallied 8.917% to close at 42.75 and traded 7,800 shares.

COOP Bank ticked 0.823% higher to close at 12.25 and traded 921,800 shares. StanChart ticked a shilling lower to close at 235.00 and traded 30,100 shares.

NIC Bank eased 3.03% to close at 40.00 and traded 673,900 shares worth 27.017m. NIC Bank reported that Q3 2012 Profit increased 36% and this remains a 55 Month High. NIC Bank is +79.48% over 12 Months.

Industrial and Allied

EABL traded 3rd and closed +0.415% at 242.00 BAT eased 0.22% to close at 457.00 and traded 113,600 shares worth 51.922m. Eveready rallied 8.108% to close at 2.00 on very heavy Volume of 4.125m shares [1.964% of its shares] worth 8.248m.

Athi River Mining improved 1.38% to close at 220.00 and traded 140,700 shares worth 31.030m. KenolKobil firmed 0.68% to close at 14.80 and traded 1.149m shares worth 17.009m. KenGen firmed 0.51% to close at 9.80 and traded 1.693m shares worth 16.59m.

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  • Amr Salah
    Dec 10 2012, 06:34

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