13 February 2013

Kenya: NSE Fortunes Rosy, Trading Hits 27-Month High

The Nairobi All Share rallied 0.87 points to close at 109.23. The Nairobi All Share is +15.1486% so far in 2013. The NSE20 share index rallied 22.45 points to close at 4633.48.

The Nairobi NSE20 is +12.0977% in 2013 and closed at a 27 month high. The equity markets entered a bull run in May 2012 and gathered speed and traction in 2013. Equity turnover yesterday was 983.871 million and the heightened volumes attest to the bona fides of the bull market.

I think there is plenty of headroom. We remain below levels seen in Q4 2007 and believe those are the levels to which we are headed. Kenya Commercial Bank was +28.571% in 2013 and EABL +18.49% and NIC Bank +22.222% set fresh all time closing highs.

EABL will release its keenly awaited H1 Earnings Friday morning. George Williamson firmed 4.48% to close at 210.00 and traded 2,500 shares.

Safaricom firmed 0.88% to close at Sh5.70 and traded 25.566m shares worth Sh145.725 million. Safaricom is +12.871% so far in 2013 and is set to test its 2013 intra day high of 6.00 from the 9th of January.

Access Kenya rallied 8.545% to close at 6.45 and was trading at Sh6.40 +9.4% session highs at the finish line. Access Kenya traded 110,800 shares. This is a 19 month closing high.

Kenya Airways ticked 0.925% higher to close at Sh10.90 and traded 277,800 shares. Scangroup closed unchanged at Sh75.00 an all time high and traded 16,900 shares.

Longhorn Kenya fell 8.91% to close at Sh9.20 and just 2.22% away from its all time low since it was introduced via a listing in May 2012.

Kenya Commercial Bank rallied a further 4.081% to close at a fresh record closing high of Sh38.25. KCB traded a Sh37.00-39.00 range and the session high of 39.00 is a fresh all time high intra day print. Kenya Commercial Bank traded 996,000 shares.

Standard Chartered firmed 1.465% to close at Sh277.00 and traded 37,000 shares. COOP Bank firmed 1.46% to close at Sh13.85 and traded 802,000 shares.

Barclays Bank traded 3.414m shares and closed unchanged at 16.50. Diamond Trust Bank eased 0.714% off a record closing high of Sh139.00 and traded 149,800 shares.

Equity Bank eased 0.9009% to close at 27.50 and traded 946,000 shares. NIC Bank firmed 2.185% to set a fresh all time closing high at 46.75. NIC Bank traded 1.392m shares.

Jubilee firmed 3.664% to close at 198.00 and traded 47,400 shares. EABL was the most actively traded share at the Securities Exchange.

Kenya Power firmed 1.604% to close at Sh19.00 and traded 2.040m shares. KenGen ticked 5 cents lower to close at Sh12.45 and traded 147,000 shares. Crown Berger rebounded 4.29% to close at Sh42.50 and traded 4,500 shares.

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