Market Report 15/12/2015
The benchmark NSE-20 Share Index was up 19.36 points to close at 3,987.57 points. The All Share Index (NASI) was up by 0.18 points to close at 144.94 points. Turnover was up by a dramatic 133.05% to KES 1.197Bn on the back of high volumes (31.01Mn shares) traded. Foreign buys were 85.9% and foreign sales were 92.96% of total turnover. 1,262 deals were executed.
The Insurance Sector Index was up 0.60% with Liberty Insurance up 2.65% to close at KES 19.40. Pan Africa Insurance was down 0.81% with only 11,200 shares exchanging.
Gainers
| Counter | Price | % Change | Volume |
| NMG | 194.00 | 7.78 | 37,400 |
| LKL | 4.15 | 6.41 | 7,100 |
| UCHUM | 8.80 | 5.39 | 31,900 |
| BOC | 100.00 | 5.26 | 100 |
| ADSS | 2.05 | 5.13 | 25,700 |
Losers
| Counter | Price | % Change | Volume |
| NBK | 14.00 | 6.67 | 20,400 |
| TCL | 6.90 | 5.48 | 40,100 |
| TOTL | 18.20 | 3.19 | 1,000 |
| UNGA | 34.00 | 2.86 | 2,200 |
| PORT | 47.00 | 2.08 | 40,400 |
Movers
| Counter | Volume | % of Volume Traded | Market Cap. |
| KCB | 9.82M | 31.7 | 121.76B |
| SCOM | 8.49M | 27.4 | 657.07B |
| EQTY | 8.36M | 27.0 | 152.83B |
| KEGN | 0.712M | 2.3 | 17.04B |
| BRIT | 0.591 | 1.9 | 27.72B |
KCB moved the market (31.7% of volumes traded). The counter had huge foreign activity. With KES 384.92 million foreign buys and KES 380.35 million foreign sales. KCB closed at 40.25, 5.23% above its 52-week low of 38.25, set on Nov 03, 2015. KCB has been gaining interest both locally and internationally. Generally analysts are recommending KCB a buy with a target price as high as KES 58.97. The interest it has been generating will eventually lead to a break in the price due to the prevailing bias of market participants (potentially up or down).
It was further reported in the media today that the Bablas raised their shareholding in KCB to 3.14% which is a signal of confidence in the bank. Kenyan WallStreet will undertake a shareholder analysis on KCB as part of our weekly company analysis.
KCB is down 30.60% YTD.
Fahari I-REIT
The Stanlib Fahari I-REIT traded 17 units. Turnover was KES 633,100. Average price KES 20.25
Fixed Income Market
In the debt market, government bonds worth 1.01 billion shillings were traded, up from 896.85 million shillings traded on Monday. 36 deals were executed.
Concentrated trading was on the short term papers. The One Year Bond (FXD 2/2015/1Yr). KES 400 million with a traded yield of 12.8411%. Five Year Bonds had a total turnover of KES 450 Million.
East African Market Performance
Uganda: The USE ALSI and USE LSI went up 0.48 percent and 1.98 percent respectively to close at 1,806.28 and 401.60. A total of 5.93mn shares were traded today. Total turnover came to a close of UGX 610.89mn.
Rwanda: The USE RSI and RSE ALSI remained constant to close at 146.99 and 130.62.
Tanzania: The DSEI and DSE TSI shaved off 0.62 percent and 1.33 percent respectively to close at 2,344.58 and 4,510.12. Africa Barrick Gold declined 7.10 percent to close at TZS 5,230.00. Total volumes were recorded at 557,797 shares. Total turnover closed at TZS 1.22bn.
Note
CBK invited bids for a nine-year amortized infrastructure bond worth up to 16 billion shillings ($156.63 million) in a tap sale. The bond will have an 11 percent coupon and an average yield of 14.753 percent and the bank said it will accept bids between Dec. 15 and Dec. 31.
At its auction on Dec.9, the weighted average yield the bond stood at 14.753 percent and the bank sold 13.96 billion shillings worth of the paper out of 30 billion shillings offered.
