The opening was delayed until 10:51 yesterday morning and trading never really got going with equity turnover of 343.353m.
The All Share was +38.4355% in 2013 [and 1.7065% below Its October 8th all time high] as of yesterday morning.
I am expecting a SSA-wide bull swing through year end of about +10%.
Safaricom eased 1.648% to close at 8.95 and traded 3.797m shares worth 34.042m. This is the first time that Safaricom has closed below 9.00 since the 7th of October. Safaricom is +77.22% in 2013 and has corrected 4.78% since setting an all time high of 9.40 on the 8th of October. Safaricom will release H1 Earnings in the first week of November and I expect those results to outperform consensus expectations and for a rally to 10.00 coincident with that earnings release.
Standard Group rallied +8.77% to close at 31.00 where 3,200 shares were traded. Nation Media closed unchanged at 320.00.
I&M reported 11 month earnings through the 30th of June 2013 pre-market opening, where 11 month profit before tax increased 1,428% to 742.116m versus 51.957m for the previous full year. 11 month earnings per share +11.834% to 1.89 shillings a share versus 1.69 for the previous 12 months. There was buy side demand for 2,610% more shares than were traded during the session, at the closing bell.
Kenya Commercial Bank was the 2nd most actively traded share and firmed +1.02% to close at 49.50. Kenya Commercial Bank traded a 49.25-50.00 range and 1.141m shares worth 56.722m. Kenya Commercial Bank is +66.386% in 2013 and within 0.5025% of a record closing high of 49.75 reached on the 8th of this month. Kenya Commercial Bank trades on a trailing PE of 12.043 and accelerated H1 2013 PAT +18.176%. A stand-out in that first half earnings release was +72% acceleration in the businesses outside Kenya.
Barclays Bank firmed 0.27% to close at 18.50 and traded 1.112m shares worth 20.583m. There was a 2 versus 1 buy versus sell side imbalance at thef inish.
Equity Bank eased 0.7% to close at 35.50 and was trading at session lows of 35.00 -2.1% at the closing bell.
EABL firmed +0.635% to close at 317.00 and was trading at 319.00 +1.27% at the finale. EABL was the most actively traded share at the securities exchange. EABL is +19.622% in 2013.
KenolKobil firmed +1.648% to close at 9.25 and traded solid volume of 3.141m shares worth 29.158m. KenolKobil has rallied +15.625% this month and on strong volume action.
Total Kenya eased 0.9% to close at 27.50 but closed the session trading session highs of 28.50 +2.7%. Total Kenya is +47.45% this month and investors have fundamentally and predictably rerated the counter.
Kenya Power KPLC eased 0.35% to close at 14.20 and traded 1.846m shares worth 26.222m. KPLC trades on a PE of 6.377 and investors are supporting the price here. The proposed corporate bond looks the best way for kick starting the quite intensive CAPEX programme.
KenGen closed unchanged at 17.00 and is +92.09% in 2013 and trades on a trailing PE of 13.178.
Sameer Africa rallied +5.76% to close at 5.50 and was trading at 5.70 +9.62% and its daily maximum at the finish line.