NSE Monthly Trading Highlights September 2013

Market Indicators

CONTENT Table 1: Key Market Indicators -Monthly Comparisons Market Indicator August 2013 September 2013 %Change NSE 20 Share Index 4,698 4,793 2.03 Page NSE All Share Index (NASI) 120 127 5.83 Market Indicators------1 Market P/E Ratio 15 16 8.53 Market Capitalization (Kshs.billions) 1,682 1,791 6.48 No. of issued shares (billions) 80 80 - Equity Market ------2 No. of shares traded (millions) 670 489 (27.01)

No. of equity transactions 33,957 31,849 (6.21) Bond Market ------3 Equity turnover (Kshs.millions)-ET 20,797 10,062 (51.62) % foreign participation to ET 52 56 7.00 Bond turnover (Kshs.billions) 25 29 16.00 Bond deals 267 364 36.33 Kshs/US Dollar currency exchange 87 87 (0.41) No. of trading days 21 21 -

Table 2: Market Performance by Index for Selected African Markets Market/Index 26 September 2013 % change MTD %Change YTD Malawi- All Share 10,604 7.28 76.28 Ghana-GSE ALSI 2,015 1.26 67.92

Rwanda RSE Index 217.9 (1.83) 34.99 Zambia-All Share 4,879 2.24 30.98 Kenya-FTSE NSE 15 Index 164 5.35 30.47 Zimbabwe-Industrial 197 8.25 29.04 Nigeria- All Share 36,158 (0.25) 28.77 Uganda -All Share 1,534 4.42 27.47 BRVM-Composite 203.7 0.87 22.29 Namibia- Local 317 2.63 15.74 Botswana BSE DCI 8,594 1.17 14.44 South Africa-All Share 44,350 5.02 12.99 Mauritius-Semdex 1,954 1.28 12.80 Tanzania -All Share 1,636 1.54 10.14 Egypt-EGX 30 5,704 8.28 4.42 Swaziland- SSX All Share 287 0.00 0.41 Tunisia- TUNIS 4,463 (3.03) (2.55) Morocco-MORALSI 8,616 2.40 (7.94) Source: respective markets, African Aliance Securities weekly report, MTN-month to date, YTD-year to date

DISCLAIMER: Care has been taken in the preparation of this bulletin. However no representation, warranty or undertaking is given by the Nairobi Securities Exchange Ltd as to the accuracy of the information contained therein and accepts no responsibility or liability whatsoever. NSE Monthly Trading Highlights September 2013

Equity market

As reflected by NSE indices, many counters recorded a price gain during the month of September 2013, with East Africa Breweries leading. For details, see fig 4 below.

Fig 1: NSE 20 Share Index Fig 4: Top 10-price gains ( between High and Low price) during the month 5000 4800 4600 Counter Price gain (Kshs) 4400 4200 EABL 75.00 4000

Index value 3800 Nation Media Group 35.00 3600 3400 Standard Chartered Bank 35.00 3200 Jubilee Holdings Ltd 33.00 3000

Bamburi Cement Ltd 25.00

Jul.12 Jul.13

Jan.13 Jan.12

Jun.12

Oct.12

Apr.12 Apr.13

Feb.12 Sep.12 Feb.13 Sep.13

Dec.12

Aug.12 Aug.13

Nov.12

Mar.12 Mar.13 May.12 BAT 25.00

Fig 2: NSE All Share Index (NASI) I&M Holdings Ltd 24.00 Williamson Tea Kenya Ltd 24.00 140 Diamond Trust Bank Kenya Ltd 23.00 130 120 Carbacid Investments Ltd 20.00 110 100

90 Index value 80 Fig 5: Actively traded counters (based on traded 70 shares

Jul.12 Jul.13

Jan.12 Jan.13 Jun.12

Oct.12 8,250,541

Apr.12 Apr.13

Feb.12 Sep.12 Feb.13 Sep.13

Dec.12

Aug.12 Aug.13

Nov.12

Mar.12 Mar.13 May.12 7,135,800 7,930,700 Safaricom 11,849,516 7,009,502 12,742,694 Equity Bank Barclays Bank 17,530,473 Fig 3: FTSE NSE Indices–long term Performance 19,933,738 KCB The Cooperative Bank 25,635,130 KenolKobil Mumias Sugar Co. 37,638,491 279,356,435 KenGen Kenya Airways CIC Insurance Group East African Breweries

Source: FTSE Group,Market Wrap, October 04, 2013

Bond market

A bond turnover of Kshs 29 billion was recorded in the month of September 2013 compared to a value of Kshs 25 billion traded in August 2013, representing a 16% increase. The highly traded bond was FXD3/2012/002, trading Kshs 5 billion on a high and low yield of 11.75% and 10.95% respectively.

Fig 6: Bond yields Fig 7: Bond turnovers

120 15.00 100 14.00 13.00 80 12.00 60 Yield (%) 11.00

10.00 40 Kshs.Billions 9.00 1 3 5 7 9 11 13 15 17 19 21 23 25 27 20 8.00 7.00 0

Maturity (years)

Jul.11 Jul.12 Jul.13

Jan.11 Jan.13 Jan.12

Jun.11 Jun.12 Jun.13

Oct.11 Oct.12

Apr.11 Apr.12

Feb.11 Sep.11 Sep.12 Feb.13 Sep.13 Feb.12

Dec.12 Dec.11

Aug.11 Aug.12 Aug.13

Nov.12 Nov.11

Apr.13

Mar.11 Mar.13 Mar.12

May 12 May.13 Jan-13 'Sep-13 May.11

NOTE

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