The Nairobi All Share exhibited outstanding price resilience Monday and Tuesday when the All Share retreated 0.36%, which correction confounded in its shallowness.
Subsequently the All Share has rallied +1.0385% and the index is higher than when it opened on Monday.
The Nairobi NSE20 Index firmed 0.3669% to close at 4764.12.
Equity Turnover was 339.936m.
The equity market and the shilling +0.35% this week is in fact noteworthy and a very bullish price formation.
Kenya Commercial Bank set an all time high for the 2nd consecutive session.
Safaricom was the most actively traded share at the securities exchange and as it has been every session this week. Safaricom eased 0.6% to close at 8.35 and traded 8.202m shares worth 68.568m. Safaricom is +65.346% in 2013 and sits 1.764% below an all time closing high of 8.50 reached on Friday last week. I expect fresh all time highs in due course.
LongHorn Kenya was the biggest gainer and rallied +7.69% to close at 14.00 on heavy volume [for Longhorn] of 112,200 shares.
Kenya Commercial Bank rallied +1.0866% to set a fresh record closing high for the 2nd consecutive session. KCB closed at 46.50 and was trading at all time intra day highs of 46.75 +1.63% at the finale. KCB is +56.302% this year and when I drove down to EABL, I saw an advertisement announcing the opening of their 235th branch.
Barclays Bank closed unchanged at 17.10 and traded 2nd at the exchange with 2.782m shares worth 47.574m changing hands. Buyers have been protecting the 17.00+ price level.
Equity Bank ticked 0.735% higher and closed at 34.25 and traded 951,000 shares. Equity Bank is +44.21% in 2013.
I&M closed at 100.00 +2.04% and traded 104,900 shares.
Liberty Kenya was the 2nd biggest gainer and rallied +4.41% to close at 11.85 and traded 64,800 shares.
It was good to pay a visit to EABL HQ the day the share price rallied +1.618% to close at 314.00. EABL was trading at session highs of 315.00 +1.94% at the close. EABL traded 99,500 shares worth 31.337m. EABL has rallied +10.56% this month and has further upside to test.
KenGen closed unchanged at 16.35 and traded 1.586m shares worth 25.935m. Kengen is +84.74% in 2013 and trades on a Trailing PE of 12.674.
KenolKobil rallied +4.41% to close at 8.35 and traded 1.962m shares. KenolKobil slashed and burned expenses by 37.13% in H1 and reduced sales by 37.13% and in what was a creditable performance reported an H1 2013 Profit Before Tax of 199.086m versus a loss of 5.683516b previously.
Total Kenya closed unchanged at 18.50 and traded 9,600 shares. Total Kenya reported strong turnaround H1 numbers where H1 2013 PBT was 757.056m versus a loss of 282.821m. I believe there is plenty of headroom in the Total Kenya price and through 20.00.
Bamburi Cement which had seen heavy volume in the previous sessions this week rallied 3.38% to close at 214.00 on light volume of 1,000 shares.
Home Afrika fell 3.97% to close at 6.05 a fresh post listing low. Home Afrika traded 98,300 shares.