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.


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.

Copyright © 2014 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.