5 February 2013

Kenya: The Equity Markets Remain Resolutely Bullish


The Nairobi All Share firmed 0.21 points to close at 104.30 it is +9.951% in 2013 having rallied 11.849% from the start of the year through 16th January.

The All Share then entered a corrective phase and corrected 3.4401% 16th January through 24th January. The All Share has rebounded 1.8057% since the 24th of January.

The NSE20 Index firmed 29.99 points to close at 4450.78. The NSE20 is +7.669% in 2013. Equity Turnover was 232.097m versus 1.059b last time and this was more a consequence of reduced sell side supply. The shilling was trading at 87.60 Last it hit 88.00 a 1 year low last week.

In Agriculture

Kakuzi traded 50,000 shares all at 75.00 +5.63%. Kakuzi is +4.166% in 2013.

In Commercial and Services

Safaricom traded 2nd, eased 0.9% to close at 5.50 and traded 2.871m shares worth 15.782m. Safaricom traded 110.832m shares the previous session and self evidently todays trading was light by comparison.

Safaricom has passed through the 10% excise tax on M-Pesa money transfers as of last week. Safaricom is +8.91% in 2013. The supply side is thin all the way up the card signalling the price bias is higher.

Nation Media firmed 1.5384% to close at 264.00 and traded 57,400 shares worth 15.182m. Buy side demand at the closing bell was for 207% more share than were traded during the session. Nation Media is +19.457% in 2013 .

ScanGroup rallied 3.731% to close at 69.50 and was trading at session highs of 71.00 +5.97% at the finish line. ScanGroup traded 147,500 shares worth 10.317m. ScanGroup is +1.459% in 2013. Kenya Airways bounced 1.88% to close at 10.85 and traded 29,900 shares. Kenya Airways is oversold and basing out.

In Banks

Kenya Commercial firmed 0.745% to close at 33.75 and was trading at 34.00 +1.49% at the closing bell. KCB traded 432,500 shares and had buy side demand at the closing bell for 634% more shares than were traded during the Session.

Equity Bank improved 0.94% to close at 26.75 and traded 405,400 shares worth 10.842m. Equity Bank is +12.631% in 2013. Barclays Bank firmed 0.31% to close at 16.15 and traded 392,700 shares. Diamond Trust Bank firmed 1.5533% to close at 131.00 and traded 33,700 shares.

NIC Bank closed unchanged at 42.50 and traded 255,200 shares worth 10.849m. NIC Bank is +11.11% in 2013 and sits 5.555% below its all time closing high of 45.00 from the 17th and 18th of January.

In Industrial and Allied

EABL was the most actively traded share at the Nairobi Securities Exchange today. EABL firmed 0.33% to close at 304.00 and matched it all time closing high of 304.00 previously achieved on January 16th.

EABL is +14.71698% in 2013 and was trading session highs of 306.00 +0.99% at the closing bell. EABL traded 299,500 shares worth 91.304m which was 39.33% of the total volume traded today. Investors gained Visibility on EABL's Earnings via the Diageo earnings release and remain enamoured with the stock.

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