The Nairobi All Share rallied 1.005% to close at a fresh all time high of 153.64.
The All Share is +12.433% in 2014 and its worth contextualising this against the wider sub-Saharan Africa where the
Equity turnover topped a billion to clock Sh1.139b and these types of volume levels bode well for the IPO of the Nairobi Securities Exchange.
Uchumi closed unchanged at Sh12.30 and traded 3.167m shares [1.193% of Uchumi's shares and therefore a material position] worth Sh38.96m. Uchumi is -36.76% in 2014. The retailer trades on a single digit PE of 9.111 and at a market cap of
Having rallied Housing Finance +9.36%, Britam +9.3% and
Equity touched a high of Sh50.00 +6.38% - an all time high price print- but was trading at Sh46.50 -1.06% at the finish line. That might be a signal that there is some bull exhaustion after what has been a parabolic rally this year.
Housing Finance which rallied 9.36% Tuesday yesterday on the news that Britam was looking to snaffle up Equity's stake traded all over the place yesterday. The mortgage lender traded a session low of Sh42.50 [-9.09%] and was was trading session highs of Sh51.00 (+9.09% )at the closing bell. It traded 532,100 shares and closed 0.529% easier at Sh47.00 after all that.
Britam gave back 3.45% to close at Sh21.00 and traded 459,400 shares worth Sh9.731m.
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