The Nairobi all share firmed 0.5075% to close at 142.58 and set a record breaking sequence of eight trading sessions where the all share has set a record high.
The Nairobi all share has rallied 6.506% this month and is +50.305% this year. The bull market which began in January 2012 has been relentless. The Nairobi NSE20 firmed 0.223% to close at 5137.21 and a fresh 64-month high.Equity turnover was 408.846m and someway below the recent run rate. I believe there is at least a further 5% of upside in the indices through year end.
In Commercial and Services. Safaricom closed unchanged at 11.00 a record all time and for the third session. Safaricom has posted a +123.96% total return in 2013. Safaricom traded 9.098m shares worth 100.182m. Nation Media closed unchanged at 319.00 and traded 61,800 shares worth 19.774m.
Standard Group ticked 4.46% higher to close at 29.25 and traded 2,300 shares. Kenya Airways firmed +1.45% to close at 13.95 and traded 700,900 shares. Kenya Airways is +43.52% since September 27 and 1.42% below its 15-month closing high of 14.05 reached earlier this month.
Among Banks. The insurance companies have been on a red hot streak in November and the moves through yesterday morning have been plain parabolic and corrections long over due.
BRITAM EA which had rallied +57.115% since the start of the month through this morning eased 3.669% to close at 15.75 and was trading at limit down of 14.75 -9.79% at the closing bell. BRITAM EA traded 1.806m shares worth 28.478m. BRITAM trades on an 11.25 trailing PE of 11.25
Pan Africa Insurance which had rallied +46.212% in November and through this morning fell 8.29% to close at 88.50 and traded 15,600 shares. Pan Africa trades on a trailing PE of 12.173 and accelerated H1 2013 PAT +266.49%.
Jubilee Insurance has lagged its peers in November having improved +5.281% this month and through yesterday morning and hence it bucked the sector profit-taking trend to day to close 0.33% firmer at 300.00 and traded 10,000 shares.
CFC StanBic reported Q3 2013 earnings where Q3 profit after tax accelerated +52.4%. CFC Stanbic rallied +4.705% to close at 89.00 and traded 251,200 shares. CFC Stanbic trades on a trailing PE of 8.989 which is a discount to its peers and that discount becomes even more compelling when you factor in the forward PE ratio.
Kenya Commercial Bank eased 0.51% to close at 48.50 and traded 682,400 shares worth 33.101m. Equity Bank firmed 0.71% to close at 35.50 and traded 928,600 shares worth 33.168m. COOP Bank improved 0.27% to close at 18.65 and traded 1.484m shares.
Standard Chartered rallied 1.88% to close at 325.00 which is probably an all time high. StanChart traded 34,000 shares.
Barclays Bank retreated 3.79% to close at 17.75 and traded shares at a session low of 17.05 -7.588%.
Housing Finance rallied +3.3% to close at 31.00 and traded 278,400 shares.
Industrial and Allied. Carbacid rallied 8.85% and closed at 61.50 with 34,000 shares changing hands. Carbacid has rallied real sharp since the Split and Bonus took effect.
BAT Kenya firmed 0.33% to close at 600.00 Total Kenya rallied 5.05% to close at 26.00 and traded 29,000 shares. KenolKobil ticked 1.64% higher to close at 9.30 and traded 845,900 shares.
By ALY KHAN, The Star
