Nairobi Star (Nairobi)
Aly Khan Satchu
22 December 2011
The NSE20 firmed 21.31 points. The Nairobi all share rallied 0.76 points. Market Cap was 857.949b versus 848.267b last time.
Equity turnover was 234.091m versus 158.186m. Local investor participation rose to account for 51% of the bourse’s total trades (up from 30% recorded in the previous session). Foreign investors still ended the session net buyers. KCB firmed 0.63% and has rallied 7.0234% in the last three weeks. Barclays Bank which was trading at limit yesterday spiked 7.85% higher today. Safaricom was trading at 3.00 +5.26% at the close. EABL was the most active and closed unchanged. Equity closed at a 52 week low.
In Commercial and Services
Safaricom traded fifth at the exchange today. Safaricom firmed 1.753% to close at 2.90 and was in fact trading at 3.00 +5.26% at the finish. Safaricom traded 7.51m shares worth 22.102m. Safaricom has rallied 5.454% since closing at 2.75 9th December through today. Uchumi was the fifth most actively traded share at the exchange. Uchumi rallied 2.859% to close at 7.20 and was trading out today’s session at 7.30 +4.29%. Uchumi traded 3.294m shares worth 23.843m. It continued to feature among top movers. The retail chain posted improved full year results for the period ended June 2011 and is expected to maintain the same momentum for the six months to December 2011. ScanGroup firmed a further 50 cents to close at 43.25 and traded 3,400 shares. WPP snaffled up 10m shares this week and that surely was a decisive intervention and in fact that surely that a price underwritten at 42.00, right there, I venture.
Among Banks
KCB traded second and firmed a further 0.63% to close at 16.00. KCB traded a 15.90-16.20 range and 2.424m shares worth 38.797m. KCB has rallied 7.0234% since the 29th November, from an admittedly oversold position. KCB trades on a 5.789 trailing PE. Equity Bank eased 0.59% to close at 16.90 which is a fresh 52 week and 20 month closing low. Equity Bank was trading at 16.70 -1.76% at the finish line. Equity Bank traded 1.352m shares worth 22.853m. Barclays Bank was trading at its daily limit yesterday and today ramped 7.85% higher to close at 13.05 with 134,700 shares traded. Centum rallied 6.91% to close at 13.15 and traded 152,900 shares.
In Industrial and Allied
EABL was the most active share in today’s session supported by foreign investor buying, trading 629,400 shares worth 106.998m and all at 170.00 Unchanged. EABL has retreated 8.178% in 2011 [versus an index which is down just under 30%]. EABL has unwound its 20% stake in Tanzania Breweries via a share sale, has bought out SABMiller’s 20% stake in Kenya Breweries via a Diageo loan and has as a consequence of this unwind, taken a much more offensive regional position. Beer, and SSA Beverage equity remains sought after and growth trends significantly above the world moving average. EABL trades on an 18.282 trailing PE. KenGen bounced 1.875% off an all time closing low. Kengen closed at 8.15 and traded 33,200 shares. KPLC improved 5 cents to close at 16.05 and traded 90,700 shares.
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