The Star (Nairobi)

11 January 2014

Kenya: Safaricom Closes Week On a Winning Streak

The Nairobi all share edged 0.09 points lower to close at 141.50.

The Nairobi all share is +3.549% and has simply flown out of the blocks in 2014.

I had a +5.00% move pegged for January and we have already received 70.98% of that prediction.

The all share is 0.757% below a record high reached in 2013.

The Nairobi NSE20 firmed 15.17 points to close at 5059.52.

The Nairobi NSE20 is +2.7106% in 2014.

Equity turnover was 807.713m and the bourse has traded $18.91m equivalent Thursday and Friday, which is way above the moving average for this time of year.

Safaricom set a record high for the fourth consecutive session in 2014 and is +8.79% in 2014.

Commercial and Services

Safaricom firmed 0.43% to close at 11.75 Safaricom traded shares as high as 11.95 +2.136%. Safaricom traded heavy volume of 33.43m shares worth 394.191m and this represented 48.8% of tFriday's turnover at the Securities Exchange. Safaricom has traded 58.189m shares over the last two sessions. Safaricom has sprinted +8.79% higher in 2014 and has been the catalyst for a real muscular start at the Nairobi Securities Exchange.

Uchumi rallied 5% to close at 21.00 and traded 112,600 shares.

TPS Serena Hotels ticked 2.7% higher to close at 47.50 and traded 6,400 shares. TPS has a valuable embedded franchise and this is not baked into the price.

Kenya Airways rallied 1.84% to close at 13.85 and traded shares as high as 14.00 +2.94%. Kenya Airways traded 293,900 shares.

Banks

Diamond Trust Bank closed at 205.00 and traded second at the Exchange with 462,600 shares worth 94.852m changing hands.

Standard Chartered rallied 2% to close at 306.00 and traded 19,600 shares.

Kenya Commercial Bank retreated 2.06% to close at 47.50 and traded 1.419m shares worth 67.585m.

Equity Bank ticked 2.21% lower to close at 33.25 and traded 1.527m shares worth 50.997m.

Centum firmed 0.71% to close at 35.25 and traded 749,700 shares.

BRITAM EA ticked 0.62% higher to close at 16.15 and was trading at session Highs of 16.50 +2.8% at the closing bell. BRITAM EA traded 755,100 shares. BRITAM EA is +5.211% in 2014.

Industrial and Allied

EABL closed unchanged at 299.00 and traded 166,400 shares. I expect International buy side demand to lift the price towards 325.00, notwithstanding an expensive (versus the Market) PE ratio.

BAT rallied +5.1785% to close at 589.00 and on good volume of 40,200 shares.

East African Portland cement was the biggest gainer Friday and rallied +6.84% to close at 62.50 and traded 5,500 shares.

Carbacid was the biggest loser and retreated 9.62% to close at 47.00 and traded 58,400 shares.

Kengen ticked 0.83% lower to close at 12.00 and traded 557,400 share. The proposed and supersized rights issue has seen the share price retreat 25% since the start of December.

KPLC retreated 2.07% to close at 14.20.

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