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.

Copyright © 2013 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.