11 January 2013

Kenya: Uchumi Supermarket Sustains Good Run At NSE

The Central Bank cut the CBR by 150 basis points to 9.5%, sending a signal to the markets that interest rates have been normalised.

The Nairobi All Share index edged 0.01 points lower today to close at 101.02 and snapped its 2013 winning streak. The All Share remains +6.4937% in 2013 and at a 23 month high.

The NSE20 firmed 14.70 points to close at 4319.73. The NSE20 is +4.500% in 2013 and at a fresh 23 month high. Safaricom eased 3.44% to close at 5.60 and traded a 5.55 and 5.80 range on 6.69m shares worth 37.718m.

Kenya Airways bounced 1.339% to close at 11.35 and traded 61,700 shares. Nation Media firmed 1.26% to close at 242.00 on light trading of 1,700 shares.

Uchumi firmed 0.26% to close at 19.10 and traded 1.915m shares worth 36.582m. Uchumi was the top performing share at the Nairobi Securities Exchange in 2012 returning just over 150 per cent.

Kenya Commercial Bank rallied 1.6% to close at 31.75 which is an all time closing high. Kenya Commercial Bank was trading at 32.25 +3.2% session highs at the closing bell and traded 1.527m shares worth 48.65m.

Equity Bank rallied 1.98% to close at 25.75 making that a 7.19% 2 session rally. Standard Chartered firmed 0.42% to close at 242.00 and this is a fresh 20 month high.

Standard Chartered was trading at 245.00 +1.66% at the closing bell and there are not many shares available quite a long way up the Score Card.

City Trust retreated 2.26% to close at 390.00 and traded 102,100 shares. I&M Bank will be reversed into City Trust. CIC Insurance rallied 5.8% to close at 3.65 and was trading 3.85 +11.59% at the closing bell. CIC Insurance announced before the opening bell that they were in the process of acquiring 417 Acres in Isinya Kajiado for the purpose of development for Sh723m.

EABL firmed 0.34% to close at 291.00 and set a further fresh all time high. EABL traded 642,700 shares worth 187.062m making that a cumulative total of 1.648m shares over 2 Sessions. EABL has rallied 9.811% since the start of the year and 20.247% over 2 months.

Athi River Mining firmed 0.9166% to a further fresh all time closing High of 55.00. ARM was trading at session highs of 59.50 +9.17% at the closing bell. ARM traded 356,500 shares worth 19.685m.

ARM has rallied 23.218% since it was split and the beginning of the year. Bamburi Cement rallied 2.105% to close at 194.00 and traded 37,900 shares.

BAT traded 30,300 shares all at 525.00 +0.19% which is an all time closing high. BAT is +6.9246% in 2013. KenGen rallied 3.2775% to close at 9.45 and traded 1.028m shares and was trading at 9.55 +4.37% session highs at the closing bell. KPLC firmed 0.6% to close at 16.80 and traded 317,400 shares.

KenolKobil firmed 0.74% to close at 13.70 and traded 708,100 shares and as far as I am aware still remains in a process with Trafigura Energy with a view to a potential buy. Mumias Sugar closed unchanged at 4.95 and traded 2.826m shares worth 14.166m.

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