The Star (Nairobi)

18 January 2013

Kenya: DTB and NIC Banks At New All Time Highs

The Nairobi all share eased 0.28 points to close at 105.82.

The Nairobi all share is +11.553% in 2013.

The Nairobi NSE20 eased 7.33 points to close at 4545.7.

Some of the high flyers met profit taking.

I do not believe this is a top. The bull market has been in play since May 7.

The Kenya shilling was last trading at 86.95 and this is the weakest level for a year.

Morgan Stanley predicted a weakening bias until the elections in a January 14 report.

Diamond Trust Bank and NIC bank set all time closing highs.

In Commercial and Services Safaricom closed unchanged at 5.75 and traded a 5.70-5.80 range and 15.912m shares worth 91.797m. Safaricom is +13.861% in 2013 and struck a 29 month intra day high of 6.00 on Wednesday last week. I expect a move through 6.00 in due course.

Uchumi traded third at the Exchange and closed unchanged at 19.10 with 2.204m shares worth 42.105m changing hands. Uchumi rallied 153.125% in 2012 and sits 4.0201% below its 6+ year closing high from last year. I expect a move to 25.00 in 2013.

TPS Serena traded +4.76% to close at 44.00.

Among Banks

Diamond Trust Bank rallied 5.34% to close at 137.00 and a fresh record high. Diamond Trust Bank has rallied +19.13% in 2013 and traded third yesterday at the Securities Exchange with 516,600 shares worth 71.624m changing hands.

NIC Bank firmed 1.12% to close at 45.00 and set a fresh all time closing high. NIC Bank is +17.647% in 2013. NIC Bank traded 172,800 shares.

Kenya Commercial Bank corrected 5.0711% off a record closing high to close at 32.75 and traded 681,200 shares worth 22.311m.

Standard Chartered rallied 2.28% to close at 268.00 and traded 27,500 shares worth 7.395m. Standard Chartered is +14.042% in 2013 and this is a 22-month closing high.

Barclays Bank firmed 0.6191% to close at 16.25 and traded 529,400 shares.

Equity Bank retreated closed at 26.50 and traded 1.174m shares worth 31.335m.

COOP Bank retreated 2.24% to close at 13.10 and traded 1.27m shares worth 16.663m.

Centum rallied 5.769% to close at 13.75 and traded 291,000 shares.

Centum is +11.33% in 2013. Centum was trading at 13.35 at the closing bell and beneath the closing price.

In Industrial and Allied EABL closed at 301.00 and traded a 300.00-305.00 range and 307,500 shares worth 92.596m. EABL remains +13.584% and was overdue a bout of profit taking. I believe the correction will be shallow.

KenGen rallied 7.936% to close at 13.60 and traded a 12.65-13.85 range and 2.849m shares worth 38.86m.

Kenya Power KPLC traded 4th and firmed 0.28% to close at 18.10 and traded 2.244m shares worth 40.62m.

Bamburi rallied 2% to close at 204.00 and traded 182,900 shares worth 37.456m. Bamburi Cement is +10.27% in 2013 and this is a 24 Month Closing High.

ARM closed unchanged at 59.50 which is a Record High and traded 89,500 shares.

BAT traded 39,500 shares worth 21.33m and all at 540.00 which is a Record High.

BAT has closed at this Level for 3 consecutive Sessions.

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