Nairobi Star (Nairobi)
Aly Khan Satchu
14 December 2011
The NSE20 snapped a three day winning streak to close 5.00 points lower at 3110.64.
The Nairobi all share edged 0.02 points higher to close at 65.91. Market cap was 841.042b versus 840.721b. Equity turnover was brisk at 308.797m versus 109.68 during the preceding session. The Big Cap counters were firm with solid buy side demand being seen in Safaricom, Equity Bank, Kenya Commercial Bank, EABL and Mumias Sugar. The shilling strengthened on Tuesday to trade stronger than 89 per dollar for the first time since July 6.
In Agriculture
Sasini Tea reported a full year revenue gain of 16.009% to 2.665877b but its earnings per share fell 60% to 1.72 from 4.30 previously. The EPS from operating activities increased 9.67% to 1.72. Sasini is paying a 50 cents final dividend. Sasini Tea eased 1.5625% to close at 12.60 and traded 53,400 shares.
In Commercial and Services
Safaricom firmed 1.82% to close at 2.80 and traded 8.175m shares worth 22.888m, which ranked it fourth in the volume charts today. Safaricom has a three versus demand versus supply mismatch signaling there is solid buy side demand here and this same trend has become apparent across the big cap counters at the exchange.
Uchumi firmed 1.49% to close at 6.80 and traded 22,400 shares. Uchumi is now being included in the NSE 20 index basket. Car and General traded 12,700 shares all at 23.25 +4.49%. Car and General was the biggest percentage gainer in today’s session. Kenya Airways turned 0.802% higher to close at 18.85 and traded 36,400 shares.
Among Banks
KCB rallied 0.64602% to close at 15.50 and traded a 15.50-15.75 range and 3.282m shares worth 50.925m. KCB trades on a 5.626 trailing PE and the basing out ahead of its 2011 low from October is a constructive pattern. Equity Bank was the most active counter at the Securities Exchange. Equity Bank firmed 0.29% to close at 17.30 and traded a 17.25-17.50 range and 7.391m shares worth 127.872m. Barclays Bank traded fifth and eased back 0.425% to close at 11.65 and traded 1.385m shares worth 16.198m COOP Bank retreated 3.333% to close at 11.60 and traded 963,800 shares worth 11.181m.
COOP Bank has closed at 2011 and 19 month closing low and this pattern is in contradistinction to its big cap peers. StanChart traded 27,400 shares and all at 167.00 and unchanged. StanChart has rallied 7.74% since closing at 155.00 2nd December which was a 2011 and 22 month closing low. CFC StanBic traded 1,000 shares at 39.00 +1.3%. DTB traded 6,600 shares at 85.00 and unchanged. Centum rebounded 4.42% to close at 11.80 and traded 42,700 shares.
In Industrial and Allied
EABL eased 0.67% to close at 167.00 and traded a 163.00-168.00 range and 146,000 shares worth 24.511m. EABL has rebounded 11.333% since the 19th of October and Investors are warming to the more expansive and offensive strategy. Mumias Sugar rallied a further 2% to close at 5.10. Mumias Sugar traded a 5.05-5.20 range and was trading session highs of 5.20 +4.00% at the finish Line. KenGen fell 2.29% to close at 8.55 and traded an 8.50-8.65 range and 1.762m shares worth 15.067m. Kenya Power eased 0.31% to close at 16.30 and traded 584,300 shares.
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