Aly Khan Satchu
20 January 2012
The NSE20 made it a four session (admittedly the gains have been gentle) gain to edge 2.19 points higher to close at 3204.76. The Nairobi All Share edged up 0.03 points to close at 68.76. Market Cap was 877.596b versus 877.164b. Equity Turnover remained subdued at 95.995m versus 118.12m. The shilling was last trading 85.746 +0.6% at the reports of the imminent signing off of a $600m syndicated loan points the shilling at 84.00.
In Agriculture
Rea Vipingo rallied 1.25% (making it a sequence of 3 up days since it released its FY 2011 earnings] to close at 16.15 but sellers are now not to be found.
In Commercial and Services
Safaricom traded 4th and firmed a further 1.54% to close at 3.30. Safaricom was trading session highs of 3.35 +3.08% at the closing bell. Safaricom has rallied 20% Dec 9th 2011 through yesterday. Safaricom was admittedly recovering from a very oversold position. Safaricom has a 12 versus 1.3 demand versus supply disequilibrium signalling firm conditions underfoot. TPS Serena traded 3rd and trade on an 11.3895 trailing PE and reported a 30.6% expansion H1 2011. Kenya Airways firmed 1.27% to close at 19.90 while ScanGroup ticked 1.307% higher to close at 38.75 and traded 45,600 shares.
Among Banks
KCB firmed 0.60% to close at 16.85 and traded a 16.75-18.00 range and was trading at 17.50 +4.48% and 18.00 +7.46% at the finish line. KCB has a 73 versus 17 demand versus supply imbalance and is set to spike today. Equity Bank was the most actively traded share in what as another slow session and we have had a sequence of them. Equity Bank closed unchanged at 15.90. Equity Bank has retreated 44.81% 12 months through yesterday versus an NSE20 Index that has retreated 28.94% through the same period. Barclays Bank traded 5th and esed 1.185% to close at 12.55 and traded a 12.40-12.80 range and 498,000 shares. Barclays Bank recent announced a round of lay offs. Barclays has retreated 14.01% 12 months through yesterday. Bloomberg and Reuters show Barclays having a dividend yield of 10.9562% but last FY they paid a special dividend from the proceeds of the sale of their custody business to Standard Chartered and hence it is absolutely unlikely that the dividend from last year can be or indeed should be maintained. Co-op eased 5 cents to close at 13.00 while StanChart eased 2 shillings to close at 159.00 and traded 8,100 shares. Diamond Trust Bank eased 1.694% to close at 87.00 on light trading of 4,100 shares. Transcentury rallied by the daily limit 9.78% to close at 25.25 on 100 shares.
In Industrial and Allied
KenolKobil rallied 3.015% to close at 10.25. KenolKobil is a bull outlier having returned +13.97% +a 57 cents interim dividend 12 months through yesterday. BAT followed Wednesday's session [where it traded 181,000 shares] to traded 2nd at the Exchange with 50,400 shares worth 13.154m traded. BAT closed unchanged at 261.00. BAT has posted a +2.63% 12 month return excluding dividends [and it is a dividend stock because it pays out most of its earnings per share] and one of the bull outliers at the Securities Exchange. Mumias Sugar firmed 1% to close at 5.05. EABL closed unchanged at 173.00 and traded 11,800 shares.