Beruflich Dokumente
Kultur Dokumente
th
4 October 2012
Equities
Turnover Hits Billion
Despite the bourse hitting the 1Bn mark in turnover the NSE 20 Share index only gained 2.43 points to close at 3961.05. The
FTSE 15 and 25 indexes refelected the performance as well up 0.34% and 0.23% respectively while the NASI slipped 0.03%.
Foreign investors shifted to a long position resulting to a net inflow of Kes.39.3Mn remaining very dominant in the market at
86% of total turnover. Equity turnover ascended 41% to cross over the Kes.1Bn level, the second time this year buoyed by
increased interest from foreigners. Market capitalisation was largely flat at Kes.1.15Bn.
"We don't have to be smarter than the rest. We have to be more disciplined than the rest." - Warren Buffett
The highlights of the days trading activity are listed below:
Table 1: NSE Performance
Top Traders
Equity
Volume
Index
Previous
Today
% change
87.11
87.08
-0.03%
5,362,300
NASI
3,973,900
NSE 20 Share
3958.62
3961.05
0.06%
3,011,100
FTSE NSE 15
115.96
116.36
0.34%
Safaricom Ltd
1,647,900
118.72
118.99
0.23%
1,158,900
FTSE NSE 25
Source: NSE
Gaining Stocks
Equity
Price (KES)
% Change
38.00
8.57
Kakuzi Ltd
72.00
2.86
TPS EA Ltd
39.50
2.60
Carbacid Investments
123.00
2.50
6.30
2.44
Losing Stocks
Equity
Price (KES)
% Change
12.50
-5.66
Trans-Century Ltd
20.75
-3.49
Eveready EA Ltd
1.60
-3.03
3.75
-2.60
15.45
-2.52
% Change
1152.40
1151.99
-0.04%
720.25
1020.92
41.75%
29.76/70.24
14.12/85.88
N/A
20:17
19:21
N/A
3054.95
5643.05
84.72%
0.00
N/A
0.00%
N/A
Buys (Kes)
Sales (Kes)
Buys (Kes)
Sales (Kes)
250,332,185.00
255,629,627.50
457,990,205.00
418,725,457.50
Net Inflow/(Outflow)
Position
Net Inflow/(Outflow)
Position
5,297,442.50
39,264,737.50
The Construction & Allied sector was up 1.57% to the top spot, boosted by the performances of Crown
Paints Kenya Ltd (NSE: BERG) +8.57% to VWAP 38.00. The total index performance depreciated 0.09%
on the back of seven segments posting losses.
The Investment sector occupied the bottom spot again losing 0.72% dragged down by Trans-Century
Ltd (NSE: TCL) which shed 3.49% to close at a VWAP of Kes.20.75.
Table 5: Daily Segmental Price Performance Analysis
Sector
Constituents
1.57
Banking
Manufacturing & Allied
2
9
Insurance
0.71
0.18
-0.04
Agricultural
-0.15
10
-0.49
-0.62
-0.65
-0.70
Investment
-0.72
Total Index
Source: NSE & Genghis Capital
60
-0.09
Company
Centum Investments Ltd
12 Month
Current Price
Target Price
19.55
11.90
Upside
Potential
39.13%
Return to
Date
-18.21%
15.80
19.90
23.00
-15.58%
45.57%
KenolKobil Limited
NIC Bank Limited
EA Cables Ltd
Athi River Mining Ltd
Diamond Trust Bank Ltd
KCB Group Ltd
Uchumi Supermarkets Ltd
Kenya Power & Lighting Co.
Nation Media Group Ltd
9.80
26.50
11.80
156.00
88.50
18.50
7.20
15.85
153.00
16.90
45.50
14.55
198.50
123.40
27.10
17.25
22.00
197.70
15.00
35.25
11.00
220.00
114.00
27.75
18.20
17.50
211.00
11.24%
22.53%
24.40%
-10.83%
7.62%
-2.40%
-5.51%
20.45%
-6.73%
53.06%
33.02%
-6.78%
41.03%
28.81%
50.00%
152.78%
10.41%
37.91%
4.00
6.25
6.30
-0.80%
57.50%
168.00
11.55
10.05
8.30
163.00
13.65
49.25
201.00
18.50
15.35
16.25
186.00
27.00
59.60
168.00
11.90
12.00
8.65
165.00
14.50
57.50
16.42%
35.68%
21.82%
46.77%
11.29%
46.30%
3.52%
0.00%
3.03%
19.40%
4.22%
1.23%
6.23%
16.75%
28.21%
Recommendation
BUY
SELL
HOLD
BUY
BUY
HOLD
HOLD
HOLD
HOLD
BUY
HOLD
HOLD
HOLD
BUY
BUY
BUY
HOLD
BUY
HOLD
Fixed Income:
Yields Uptick Sustained!
Money Markets: The CBK was active in todays session to mop up Kes.5Bn in excess liquidity through
repurchase agreements and TADs as the interbank rate slipped to 8.94%.
Primary Markets: The 91-Day T-Bill was up for auction today and as expected yields maintained their
upward trajectory. The regulator received bids worth Kes.2.5Bn against a target of Kes.4Bn accepting
bids worth Kes.2.03Bn. The Yield on the 91-Day T-Bill was up 34.6bps to 8.439%. The CBK will offer a 2Yr bond worth up to Kes.12Bn in the month with the deadline on 23rd October.
Secondary Markets: Bond deals were up to 116 as turnover shot up 84.72% to Kes.5.6Bn driven by
IFBs that transacted Kes.1.7Bn; 31% of the total Bond turnover.
Table 7: Short -Term Interest Rates, Treasury Notes & CDs
Tenor
91 Day
182 Day
1 Year
2 Year
5 Year
10 Year
Kenya
8.44%
10.19%
10.57%
11.11%
11.86%
12.71%
Uganda
9.67%
10.66%
10.69%
14.84%
15.39%
15.28%
Tanzania
12.45%
13.01%
13.76%
13.81%
14.49%
14.99%
U.S
0.10%
0.11%
0.18%
0.27%
0.68%
1.68%
LIBOR (USD)
0.41%
0.70%
1.03%
----
USD/KES
GBP/KES
136.60
137.04
EUR/KES
109.45
110.24
ZAR/KES
10.06
9.97
KES/UGX
30.14
30.07
KES/TZS
18.59
18.55
Currency Pair
INR/KES
Source: Bloomberg 4.00pm E.A.T, Genghis Est.
1.62
th
27 Jan 2012
1.64
th
30 Jan 2012
Technical Analysis and Outlook: The chart exhibits the Psychological Line of the USDKES
pair over the past 3 years. The currency pair has enjoyed support from the regulator to keep
Estimatesit at below the 85 level on average.
Large-Cap Index
Total
Shares Outstanding
Mkt Cap.
Kshs Mn.
Price Change
EPS
DPS
P/E
Dividend
Yield - %
40,000,000,000
160,000,000,000
1,647,900
-1.23%
0.32
0.22
12.50
5.50%
790,774,356
185,831,973,660
3,011,100
-1.67%
13.46
8.75
17.46
3.72%
3,702,777,020
85,163,871,460
378,700
2.22%
2.79
1.00
8.24
4.35%
5,431,536,000
78,757,272,000
152,600
0.69%
1.49
1.50
9.73
10.34%
362,959,275
60,977,158,200
108,500
0.60%
14.44
10.00
11.63
5.95%
287,077,133
59,999,120,797
8,900
0.48%
19.75
11.00
10.58
5.26%
3,492,369,900
41,559,201,810
3,973,900
1.28%
1.53
0.40
7.78
3.36%
2,950,259,818
81,869,709,950
5,362,300
0.91%
3.72
1.85
7.46
6.67%
2,198,361,456
19,015,826,594
211,200
0.58%
1.28
0.60
6.76
6.94%
100,000,000
44,000,000,000
100
2.09%
30.98
30.50
14.20
6.93%
157,118,572
33,152,018,692
4,800
0.00%
12.70
8.00
16.61
3.79%
273,684,211
10,878,947,387
500
-0.63%
5.99
0.00
6.64
0.00%
461,615,483
5,377,820,377
111,200
-0.85%
3.58
0.25
3.25
2.15%
1,530,000,000
9,486,000,000
1,158,900
-0.80%
1.32
0.50
4.70
8.06%
163,037,108
18,586,230,312
102,700
0.00%
13.58
1.70
8.39
1.49%
633,024,000
11,077,920,000
194,300
0.00%
2.16
0.45
8.10
2.57%
99,055,000
21,792,100,000
1,700
-2.22%
11.63
2.00
18.92
0.91%
358,997,784
12,654,671,886
28,600
1.44%
6.72
0.50
5.25
1.42%
940,179,843,125
16,457,900
0.16%
8.19
4.40
9.90
4.41%
604,947,068
7,198,870,109
25,800
-0.83%
1.79
0.00
6.65
0.00%
1,471,761,200
22,076,418,000
560,300
0.00%
2.21
1.00
6.79
6.67%
284,789,128
16,375,374,860
6,800
-0.86%
2.55
0.70
22.55
1.22%
280,000,000
5,012,000,000
5,362,300
-1.38%
3.19
0.40
5.61
2.23%
90,000,000
4,680,000,000
300
0.00%
6.24
0.50
8.33
0.96%
148,210,640
5,854,320,280
19,300
2.60%
4.51
1.30
8.76
3.29%
54,450,000
8,984,250,000
9,600
0.00%
33.00
4.50
5.00
2.73%
582,709,440
7,866,577,440
0.00%
-0.31
0.00
-43.55
0.00%
600,000,000
7,200,000,000
93,500
0.00%
3.19
0.35
3.76
2.92%
235,750,000
3,418,375,000
245,200
2.11%
2.70
1.20
5.37
8.28%
175,028,706
2,704,193,508
1,200
-2.52%
3.05
0.00
5.07
0.00%
33,980,265
4,179,572,595
400
2.50%
8.89
5.00
13.84
4.07%
96,000,000
3,480,000,000
100
-1.36%
2.31
1.00
15.69
2.76%
253,125,000
2,784,375,000
128,200
0.92%
1.15
1.00
9.57
9.09%
208,084,296
998,804,621
165,600
0.00%
0.53
0.00
9.06
0.00%
74,059,026
1,758,901,868
2,900
0.00%
2.96
0.00
8.02
0.00%
2,150,000,000
13,545,000,000
97,600
2.44%
-1.09
0.15
-5.78
2.38%
2,179,615,440
8,173,557,900
712,800
-1.32%
0.27
0.09
17.78
1.88%
265,424,636
4,830,728,375
179,400
-0.27%
1.47
0.00
12.38
0.00%
273,950,284
5,684,468,393
51,700
-3.49%
1.23
0.25
16.87
1.20%
515,270,364
3,632,656,066
5,500
0.00%
1.84
0.00
3.83
0.00%
228,055,500
2,622,638,250
30,300
-1.29%
1.72
1.00
6.69
8.70%
19,525,446
2,186,849,952
2,100
0.90%
7.71
6.80
14.53
6.07%
145,247,932,217
7,700,900
-0.10%
3.96
1.10
6.82
2.80%
1,043,783,974
16,900
-2.60%
0.35
0.20
10.71
5.33%
8,756,320
1,751,264,000
3,900
0.00%
93.74
57.50
2.13
28.75%
19,599,999
1,411,199,928
200
2.86%
28.06
3.75
2.57
5.21%
60,000,000
1,026,000,000
13,800
-1.72%
7.79
1.10
2.20
6.43%
22,279,616
556,990,400
100
0.00%
7.78
0.55
3.21
2.20%
75,708,873
927,433,694
5,200
1.66%
2.81
0.75
4.36
6.12%
23,727,000
901,626,000
100
8.57%
5.44
1.25
6.99
3.29%
210,000,000
336,000,000
19,800
-3.03%
-0.59
-2.71
0.00%
16,078,500
900,396,000
400
-0.88%
1.36
1.25
41.18
2.23%
5,728,314
1,976,268,330
25,800
0.00%
6.12
4.00
56.37
1.16%
58,500,000
3,912,000
775,125,000
489,000,000
500
900
-5.66%
0.00%
2.33
19.93
1.50
7.50
5.36
6.27
12.00%
6.00%
1,200,000
540,000,000
0.00%
33.70
7.50
13.35
1.67%
35,403,790
139,844,971
1,100
-1.25%
-6.47
-0.61
0.00%
40,000,000
142,000,000
5,400
1.43%
0.38
0.10
9.34
2.82%
14,393,106
187,110,378
0.00%
-11.80
-1.10
0.00%
12,868,124
38,604,372
13,142,647,047
0
94,100
0.00%
-0.04%
0.04
11.23
5.11
75.00
13.80
0.00%
4.89%
Contacts
Report By: Moses Waireri,Research Analyst | Tel:+254 20 2774781 | Email: mwaireri@genghis-capital.com
Report By: Evelyne Wanjiku, Research Analyst | Tel:+254 20 2774781 | Email: ewanjiku@genghis-capital.com
Anthony Kimani, Research Analyst | Tel:+254 20 2774781 | Email: akimani@genghis-capital.com
Carol Matu, Head Dealer | Tel: +254 20 2774789 | Email: cmatu@genghis-capital.com
Gachanja Weru, Fixed Income Dealer| Tel:+25420 2774756 | Email: gweru@genghis-capital.com
George Guy,Fixed Income Dealer | Tel:+254 20 2774756| Mob: +254 727 142231 | Email: gguy@genghis-capital.com
Nyawira Waithaka, Equity Dealer | Tel:+254 20 2774777 | Mob: +254 723 693481 | Email: nwaithaka@genghis-capital.com
Andrew Maina, Senior Equity Dealer | Tel:+254 20 2774789 | Mob: +254 722 667936 | Email: amaina@genghis-capital.com
Disclaimer: The content provided on this document is provided as general information and does not constitute advice or recommendation by Genghis Capital
Ltd and should not be relied upon for investment decisions or any other matter and that this document does not constitute a distribution recommending the
purchase or sale of any security or portfolio. Please note that past performance is no indication of future results. The ideas expressed in the document are
solely the opinions of the author at the time of publication and are subject to change without notice. Although the author has made every effort to provide
accurate information at the date of publication all information available in this report is provided without any express or implied warranty of any kind as to
its correctness. You should consult your own independent financial adviser to obtain professional advice before exercising any decisions based on the
information present in this document. Any action that you take as a result of this information, analysis, or advertisement is ultimately your responsibility.