Movers & Shakers: December 31, 2012

Kenya: NSE 20 +0.26%, USD 1.3m

Despite modest activity during the day, the market consolidated the yearly gains with a 0.26% increase. The benchmark NSE 20 Share Index has now ended the year up 29% YTD, making Kenya one of the best performing markets in Africa for 2012. Volumes for the session were 10.7% lower compared to the previous trading session. Foreign investors remained net buyers at 64.7% compared to 68.5% in the previous session. Overall share of traded volumes by foreigners however remained low at 33.5% since locals were active sellers across most of the large caps. Locals sold on EABL, Barclays, Safaricom and KCB Bank. City Trust, now the holding company of I&M Bank subject to transaction completion, was among the large movers at an unchanged price of KES 390. Safaricom was also flat ahead of SIM deactivation deadline of 31 December 2012. Preliminary data from the regulator indicates it has the highest registration rate among its peers at 85.2% and will increase its subscriber market share from 63.6% to 67.4%, but temporarily have some 2.9m subscribers disconnected.

Nigeria: ASI +0.76%, USD 10.56m

With the trading session shortened to two hours on the last trading day of the year things were extremely slow in Lagos with value traded amounting to $10.56m. The market did however manage to end in positive territory with the Banking Sector leading the way higher as the Bank10 Index gained 2.13% as a number of the top and mid-tier banks ended firmer. The usual culprits in the form of Zenith (+4.62%), Guaranty (unch) and First Bank (+0.64%) drove activity. There were a few decent crosses in the likes of Guinness and NB as well which helped boost activity slightly

Zimbabwe: Ind -0.35%, Mining +1.28%, USD 410k

Industrials faltered in the final session for 2012 shedding a marginal 0.35% to close the year at 152.40pts which saw the main stream industrial index close the year with a return of 4.48%. Activity was rather subdued across the board as property group, Mash emerged the surprise top traded stock for the day after $94,347 worth of shares exchanged hands. Overall market turnover fell 84% to $410,980. Similarly foreign participation was subdued with purchases down 90% at $101,411 while there were no foreign outflows in the session. Fallers and risers were almost evenly balanced with counters to rise totaling eight while seven saw losses. Clothing retail group Edgars led the losses after shedding 16.7% to 1.4c while packaging group Hunyani followed after shedding 7.5% to 3.7c. AICO and TN Bank dropped an identical 5.16% and closed at 9c and 18c respectively. Completing the top fallers list was Dairibord that came off -4.55% and closed the session at 21c. The Mining Index firmed 1.28% to 65.12pts courtesy of a firm bid in Falgold 13c against a last traded price of 12c though no trades were seen in the remaining mining stocks.