Market Report 10/12/2015

Daily Market Report

NSE Market Report 10/12/2015

The benchmark NSE20 share index declined, losing 16.35 points, to close at 3,986.28 points. The Nairobi All Share Index dropped down by 1635 points to close at 3,986.28 points. Turnover at the bourse was KES 432.7 Million. 13,688,093 shares were traded.

Gainers

Counter Price % Change
UCHUM 8.70 8.07
ADSS 2.10 7.69
TOTL 18.90 5.29
DTK 200.00 4.71
HAFR 1.40 3.70

Atlas has become a speculators haven.

Losers

Counter Price % Change
CFCI 17.70 9.00
SGL 29.00 8.66
TCL 7.90 7.06
ARM 40.00 5.33
CABL 10.10 3.81

Movers

Counter Volume % of Volume Traded Market Cap.
SCOM 5.40M 39.5 649.06B
EQTY 3.46M 25.3 154.72B
BBK 1.09M 8.0 70.61B
KCB 0.899M 6.6 122.52B
MSC 0.748M 5.5 2.45B

Transcentury

TransCentury Ltd set a new 52-week low during today’s trading session when it reached 7.65. Over this period, the share price is down 56.11 %.

 

TCL 52 week low.JPG

Fixed Income Market

In the debt market, bonds worth KES 1 Billion were traded, compared to previous day’s volume of KES 660 Million.

 

Market News

Fitch warns Kenya

Carmen Altenkirch (Sovereigns Analyst) said that over the medium term, fiscal and external risks were rising, particularly if there was no decisive fiscal consolidation by its government.

“The longer they delay this, it clearly places additional pressure on debt and could ultimately result in the rating being downgraded,” she said.

In July, Fitch affirmed Kenya’s rating at B+, but cut its outlook to negative from stable.

 

The Shilling

The shilling is expected to stay close to 102 per dollar next week, with inflows of foreign exchange likely to match corporate dollar demand.

The shilling has traded in a range of roughly 102.00 to 102.50 since early November, but strengthened in recent days to below 102.00. By 1248 GMT on Thursday, it was at 101.65/75.

One trader said he expected the shilling to stay in a range of about 101.50 to 102.00 next week, while another suggested a range of about 101.80 to 101.30.

Dealers said the central bank could issue a tap on a nine-year, government infrastructure bond after the initial auction on Dec. 9 received bids worth just 55 percent of the value offered. The poor subscription level suggested lower offshore interest, but the tap could boost dollar inflows, they said.

 

ABC Bank

ABC Bank has secured a Sh555 million loan from European Investment Bank (EIB) for long-term lending to small- and medium-sized enterprises.

The credit from EIB is a top-up of a previous Sh770 million ABC Bank received in 2012 from the European Union-owned bank.

 

East African Portland Cement

EAPC had mentioned that it would release their financials on 8 Dec 2015. 2 days have passed already and no official communication has been made.