16 January 2013

Kenya: NSE Bull Rally Continues to Broaden Out

The Nairobi All Share rallied 1.52 points to close at 104.28 and this is a 5 Year+ high. The Nairobi All Share is +9.93042% in 2013 and has posted an extraordinary and outstanding bull move this year.

The Securities Exchange entered a bull market in May 2012 and has been resolutely bullish since then. The NSE20 rallied 60.70 points to close at 4474.68.

The NSE20 has rallied 8.2506% in 2013 and this is a 24 month closing high. NSE rally continues to broaden out with Nation Media +15.8731% in 2013 Kenya Commercial Bank +15.126%, Diamond Trust +13.157%, NIC Bank +14.379%, EABL+14.339% all set fresh all time highs.

In Agriculture

Rea Vipingo reported FY earnings yesterday where its FY turnover increased 21.559%. It maintained the dividend but a dividend pay out ratio of 17.35% versus the earnings per share is really unconcionable. Rea Vipingo trades on a PE of 3.099 which makes the Price egregiously cheap.

In Commercial and Services

Safaricom traded 2nd at the exchange and closed unchanged at 5.65. Safaricom traded 11.688m shares worth 66.227m.Safaricom is +11.881% in 2013.

Nation Media rallied 5.786% to close at 256.00 and traded 47,400 shares worth 12.172m. Nation Media has rallied +15.8731% in 2013 and this is a fresh all time highs.

Access Kenya rallied 6.54% to close at 5.70 and traded 223,500 shares.Access Kenya is +29.545% in 2013 and this is a 17 month high.

In Banks

Kenya Commercial Bank rallied 3.0075% to close at 34.25 and a fresh all time highs. Kenya Commercial Bank traded a 33.50-35.00 range and 1.116m shares worth 38.458m shillings. Kenya Commercial Bank is +15.126% in 2013. Equity Bank rallied 1.94% to close at 26.25 which is a fresh 20 month high. Equity Bank is +10.526% in 2013.

Standard Chartered rallied 2.41% to close at 255.00. Standard Chartered has closed at a 22 month high. Barclays Bank firmed 1.29% to close at 15.70 and traded 2.318m shares worth 36.4m.

COOP Bank firmed 1.17% to close at 13.00 and traded 2.758m shares worth 35.848m. Diamond Trust Bank firmed 1.6% to close at 129.00 and has closed at an fresh all time high. Diamond Trust is +13.157% in 2013.

NIC Bank rallied 4.7904% to close at 43.75 and traded 185,600 shares. NIC Bank is +14.379% in 2013 and This is an fresh all time high. City Trust traded 52,000 shares worth 20.28m all at an unchanged 390.00.

In Industrial and Allied

EABL was the most actively traded share at the Securities Exchange. EABL firmed 1.333% to set another all time highs. at 303.00. EABL traded a 300-305 range and 694,000 shares worth 210.890m, which was 40.505% of the Total Volume traded at the Exchange today.

KenGen rallied a further 6.481% to close at 11.50 and was trading at limit Up 11.85 +9.72% at the closing bell. KenGen traded 1.588m shares worth 18.304m. Kenya Power bounced 4.0697% higher to close at 17.90 and traded 295,000 shares.

Mumias Sugar firmed 1.0204% to close at 4.95 and was trading at 5.05 +3.06% session Highs at the Close. Mumias Sugar traded 2.067m shares.

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