Nairobi Star (Nairobi)
Aly Khan Satchu
8 December 2011
The NSE20 snapped a 7 session losing sequence to close 8.13 points higher at 3078.49. The Nairobi All Share edged 0.09 points lower to close at 65.14. Market Cap was 831.27b versus 832.472b. Equity Turnover was 159.294m with Safaricom trading 52.403% of that. City Trust ramped 3.33% higher to close at a more than 5 year high of 279.00. City Trust is the top perfomer at the securities exchange having posted a YTD return of 93.75%. Britak slumped 5.55% to a fresh all time closing low of 4.25.
In Commercial and Services
Safaricom was the most actively traded counter at the bourse in today’s session. Safaricom closed unchanged at 2.80 and traded 29.811m shares worth 83.475m, which represented 52.403% of the volume. Safaricom released H1 results which were severely impacted by the price war which was at its most intense over that reporting period.
Safaricom displays a high correlation to the inflation rate as inflation decimates the discretionaryspend at the bottom of the pyramid. Safaricom trades on a trailing PE of 8.408. Car and General bounced 7.4168% to close at 21.00 while Kenya Airways firmed 5 cents to close at 18.70.
Among Banks
KCB traded 2nd at the NSE and firmed 0.3311% to close at 15.15. KCB rallied 25.17% 21st October through 2nd November before retreating again. KCB is trying to base out ahead of 14.70 and that is constructive on the charts. City Trust traded 3rd and traded 51,100 shares [0.89% of the issued shares] worth 14.288m and closed at 279.00 +3.33% following on its 8.00% gain on Tuesday.
This is the strongest close since November 2006 which is a noteworthy outcome where the Index has fallen 30% to a 28 month low this year. City Trust trades on a 45.588 Trailing PE, which makes it the most expensive counter on that PE metric . It t has rallied 93.75% in 2011. Barclays Bank traded 5th and shaved off 0.88% to close at 11.20 while StanChart was unchanged at 156.00. Co-op Bank retreated 0.833% to close at 11.90 while CFC StanBic was low ticked 5% to close at 38.00. Equity Bank closed unchanged at 17.35 and traded 316,600 shares. Britak slumped 5.55% to a fresh all time closing low of 4.25. It has fallen 52.777% since its listing. It is a debacle.
In Industrial and Allied
KenolKobil traded 4th and closed unchanged at 9.00 but closed the session at intra day highs of 9.50 +5.56% trading. KenolKobil reiterated FY earnings guidance of $36m a short while ago. KenolKobil trades on a 7.456 Trailing PE and reported an 83% increase H1 earnings.
KenolKobil trades on a 7.456 trailing PE and reported an 83% increase H1 earnings. It looks a very cheap price here. KenGen retreated 1.734% to close at 8.50 and sits 5 cents and 0.59% above its 2011 and all time closing low of 8.45. Kengen has retreated 47.05% in 2011, when the final dividend of 50 cents is included in the calculation.
KPLC firmed 30 cents to close at 16.55 and traded 28,600 shares. BAT rallied 3.167% to close at 228.00 and traded 4,400 shares. EABL firmed a shilling to close at 162.00 and traded 13,600 shares. Mumias Sugar followed on Tuesday’s 6.66% gain with a further 1.041% extension higher to close at 4.85 and traded 214,200 shares.
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