KenolKobil rebounds after Puma deal assurance

Thursday, September 13, 2012 - 00:00 -- Winfred Kagwe

The NSE20 rallied 37.37 points to close at 3941.10 a fresh 14 month closing high. The NSE20 Index has rallied 736 points this year and is +22.964% in 2012. The Nairobi All Share rallied 0.66 points to close at 87.25. Equity Turnover was 596.971m versus 381.228m. This Bull Move has been floated higher on banner volume, which confirms its Bona Fides. The Securities Exchange has traded volume of 2.54b Kenya Shillings over the last 3 Sessions.

In Commercial and Services

Safaricom traded 2nd at the Securities Exchange and closed unchanged at 4.25 and traded 28.035m shares worth 120.398m. Safaricom is +44.0677% in 2012 and has spiked 7.594% since the 6th September when it crossed Key Resistance at 3.95, a level that had Safaricom first reached on July 25th. Safaricom trades on a Trailing PE of 13.3461.

ScanGroup traded 4th. ScanGroup traded 621,000 shares worth 36.018m and all at 58.00 +0.87%. ScanGroup is +39.75% in 2012. Uchumi closed unchanged at 17.05 and traded 857,000 shares. Uchumi has posted a 120% Return in 2012.

Among Banks

Kenya Commercial Bank traded 6th. KCB rallied 2.775% to close at 27.75 which is a fresh 52 week closing high. KCB was trading and bid at 28.00 +3.7% at the finish line. KCB traded 1.139m shares and had buy side demand at the closing bell for 500% more shares than were traded during the session.

Barclays Bank was the 3rd Most actively traded share and rallied 3.225% to close at 14.40.Barclays traded 2.959m shares worth 42.715m.

Equity Bank traded 5th. Equity Bank rallied 3.26% to close at 23.75 and traded 1.354m shares worth 31.184m. Equity Bank has rallied 6.63% over the last 2 sessions.

Standard Chartered firmed 2.358% to close at 217.00 and traded 53,000 shares. Standard Chartered has considerable head room, I venture, It is +52% on a Total Return Basis in 2012, trades on a 10.987 trailing PE and accelerated H1 2012 profit before tax +87.501%. Centum retreated 2.0576% to close at 11.90 and traded 29,200 shares. Centum is -11.85% in 2012 and 5.309% above a 52 week Low.

In Industrial and Allied

KenolKobil issued an update yesterday where they said they expect the outcome of the due diligence and subsequent negotiations to be satisfactory. If so, Puma Energy may proceed with a transaction. KenolKobil rebounded 9.1603% to close at 14.30 and was trading for most of the session at the daily limit of 14.40 +9.92%. KenolKobil traded 291,300 shares and had buy side demand for in excess of 1m shares.

EABL was the most actively traded share at the Exchange, it eased 0.44% to close at 228.00 and traded 586,000 shares worth 134.099m. EABL has traded 6.746m shares over the last 3 Sessions which represents 0.853% of its shares.

KenGen bucked the broad based bull trend and retreated 1.796% to close at 8.20 and closed out the Session trading at 8.05 -3.59% session lows. KenGen was heavily traded with 3.491m shares worth 28.662mn changing hands.

Athi River Mining has closed at an all time closing high rallied 2.39% to close at 214.00. Athi River Mining traded 121,700 shares worth 26.097m. Mumias Sugar eased 0.806% to close at 6.15 and traded 2.425m shares.