The Nairobi all share retreated 1.31% to close at 121.24. The Nairobi all share is +27.809% in 2013. It has retreated 3.937% since August 19. The Nairobi NSE20 fell 32.44 points to close at 4742.15. Equity turnover was 584.044m.
There were nine winners and 30 losers at the exchange yesterday. The market was soft. Some counters were exhibiting fatigue. The shilling was last quoted at 87.544.
The price of crude oil was last at $110.45 in New York and traded at a May 3, 2011 intra day high Tuesday. This development puts pressure on the shilling.
Commercial and Services
Safaricom was the most actively traded share at the Securities Exchange. Safaricom retreated 3.23% to close at 7.50 and traded 28.182m shares worth 212.62m.
Safaricom is +48.514% in 2013. Safaricom set a sequence of record closing highs which culminated on August 20 at 8.15. Since then Safaricom has corrected 7.97%.
Safaricom remains in powerful bull trend and this near term correction will not stretch beyond 7.30, which would mark a 10% drawdown from 8.15. Safaricom trades on a trailing PE of 17.045.
TPS Serena firmed 1.05% to close at 48.25 and traded 23,700 shares. TPS Serena trades on a trailing PE of 13.402 and reported a +17.078% Acceleration first half 2013 PAT.
TPS Serena spoke to "forecast business outlook for the peak season from July to October 2013 is at healthy levels" and that bodes well because Serena exhibits a strong second half skew. Serena is a cheap share. Uchumi firmed 0.51% to close at 19.75 and traded 12,400 shares.
Kenya Commercial Bank traded second at the exchange and retreated 3.37% to close at 43.00 and traded 2.263m shares worth 97.468m. Kenya Commercial Bank will report its first half 2013 earnings at the Hilton Hotel this morning ahead of the market opening.
Kenya Commercial Bank is +44.537% in 2013, trades on a trailing PE of 10.4622 and accelerated Q1 2013 PAT +25%. Equity Bank traded third at the exchange and retreated 2.205% to close at 33.25 and was trading at session Lows of 33.00 -2.94% at the closing bell.
Equity Bank traded 2.123m shares worth 70.666m. Equity Bank trades on a trailing PE of 10.199 and reported a +16.746% acceleration H1 2013 PAT.
Industrial and Allied
Total Kenya rallied 3.53% to close at 17.60 and was trading at 17.80 +4.71% session highs at the finish line. Total Kenya traded 6,900 shares with buy side demand a multiple of that. KenolKobil firmed 1.176% to close at 8.60 and traded 97,600 shares.
EABL eased 1.633% to close at 301.00 and traded 112,200 shares. Bamburi Cement was the biggest gainer at the exchange and rallied 3.98% to close at 209.00 and traded 5,400 shares.
East african Portland Cement ticked 0.90% higher to close at 56.00 and traded 5,200 shares. Mumias Sugar eased 2.63% to close at 3.70 and traded 441,900 shares.