22 February 2013

Kenya: NSE Halts Losing Streak After Five Sessions

The Nairobi Securities turned higher after a 5 session losing streak. The Nairobi All Share turned 0.26 points higher to close at 105.39. The Nairobi NSE20 edged up 2.83 points to close at 4505.59.

Safaricom closed unchanged at 5.70 and traded 14.617m shares worth 83.962m. Safaricom had buy side demand for 224% more shares than were traded during the session. Safaricom is +12.871% and targets its August 2010 closing high of 5.80 reached on January 9th.

Kenya Commercial Bank eased 0.684% to close at 36.25 and traded 2.605m shares worth 94.526m. Kenya Commercial Bank is +21.848% in 2013 and has corrected 5.844% off an all time closing high of 38.50 reached on the 13th of February. Kenya Commercial Bank releases full year earnings at the end of next week.

Equity Bank eased 0.92% to close at 27.00 and traded 1.828m shares worth 49.476m.

NIC Bank shaved off 0.55% to close at 45.25 and traded 725,300 shares the day after releasing full year earnings. Profit before tax increased +25.326% to 4.517967b, and profit after tax increased +12.177% to 3.036794b, full year earnings per share expanded +8.844% to 6.03.

Pan Africa Insurance released full year earnings pre market opening. Pan Africa reported full year profits before tax expanded +51.084% to 834.646m, full year profits after tax expanded +57.479% to 698.271m, full year earnings per share expanded +57.359% to 7.27 and the final dividend was raised 50% to 3 shillings a share. Pan Africa rallied 4.44% to close at 47.00. Pan Africa is +16.77% in 2013 and has further headroom.

EABL was the most actively traded share at the Securities Exchange yesterday. EABL rebounded 1.465% to close at 277.00 on heavy volume of 1.454m shares worth 402.906m which represented 45.9755% of the total volume traded today. EABL had corrected 13.333% off an all time closing high of 315.00 achieved on the 13th February.

Bamburi Cement rebounded 4.90% to close at 214.00 and traded 172,200 shares worth 36.943m.

Portland Cement rallied 3.23% to close at 48.00 and traded 12,000 shares. Athi River Mining rallied 1.64% to close at 62.00 and set a fresh all time closing high.

BAT eased 0.93% to close at 530.00 and traded 103,700 shares. BAT is +7.942% in 2013 and sits 1.851% below a record closing high of 540.00 reached on the 13th of February.

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