For a background to this continuing series of summaries at the end of each trading day, READ: The Introductory Section (availed at this link)
Share Price and Market Capitalization on Specified Days of the Week:
Friday, May 21st, 2021: Share Price and Market Capitalization at Close of Trading Day.
The share price closed 0.98% higher than yesterday, settling at KES 2,260.44 (or US$ 20.89, at the forex rate of US$1:KES108.23 -- which indicated a little strengthening of KES]. In contrast, as figures calculated by brokers Dyer & Blair show, the NSE 20 Index had a 0.36% gain, while NASI gained by 1.12%. Unashig stood in-between.
Foreign investor increased their trading dominance at the bourse, accounting for 56.10% of all purchases and 84.80% of all sales.
The number of Unashig's outstanding shares held at 3,019.11. No new shares were bought at the NSE either. The crediting to Unashig's CDSC account of 2,400 additional I&M shares (representing a 1:1 bonus issue) did not take place today as scheduled, for unknown reasons. Certainly, our broker's postings for the day did not show it. We wait. It will come. Incidentally, today's closing price at the bourse per I&M share was KES 23.35 (or US$ 0.22).
YTD (Year-to-Date), Unashig's share price rose to 10.67%, or 1.08 percentage points higher than yesterday.
Market capitalization closed today, and the week, at KES 6,824,504.50, or US$ 63,055.57. This represented a 0.98% gain from the previous day, and 22.74% YTD. It also sustained the positive trend for the second day in a row. Today's gain also raised the cumulative increase in capitalization to 303.26%, counting from December 31st, 2019. It therefore returned the historical gain in capitalization back above 300%, since the gain shown at the beginning of this week (May 17th).
IMPORTANT NOTE: Until the close of trading on Monday, May 24th, at 3:00 PM (GMT+3) -- and the subsequent release by NSE of the day's final Equity Price List approximately 60 to 90 minutes thereafter -- KES 2,260.44 (or US$ 20.98), plus the brokerage and statutory charges pointed out in the Unashig Share Pricing Formula, will prevail as the price at which a Unashig CA or CB may be bought from the company.
Thursday, May 20th, 2021: Share Price and Market Capitalization at Close of Trading Day.
Unashig's share price closed 1.12% higher today than it did yesterday, settling at KES 2,238.45 (or US$20.68, at the forex rate of US$1:KES108.25). This exchange rate clearly highlighted the weakening of KES due to various converging factors. In comparison, based on figures calculated by brokers Dyer & Blair, the NSE 20 Index closed only 0.70% higher today than it did yesterday, while NASI closed markedly higher, at 1.45%. So Unashig's share price performed relatively higher than the NSE 20 Index, but rather lower than NASI.
Though foreign traders were in a formalistic sense net sellers today -- accounting for 53.94% percent of market purchases and 66.13% of total sales -- they in fact dominated both sides of the market/equation. The weakening KES helped them in their purchasing, for sure, but not in their selling. One obvious inference from the relative "selling spree" is that they were merely "cutting loose" and going away this May. Whether or not this was in anticipation of a further weakening of the KES remains to be seen.
Unashig did not buy any quoted shares today. Tomorrow, however, Unashig's portfolio of quoted shares will be boosted with 2,400 of I&M's 1:1 bonus shares scheduled to be credited to its CDSC account [I&M's closing price per share was KES 23.35 today. Let's see how it fares tomorrow]. Unashig's outstanding CA and CB shares remained unchanged today, at 3,019.11.
YTD, Unashig's share price closed with a gain of 9.59%, which was 1.21 percentage points higher than we saw yesterday.
The company's market capitalization closed today at KES 6,683,051.00 (or US$ 61,908.76). This was 1.12% higher than yesterday's closing valuation. YTD, the said market capitalization represents a gain of 21.55%. This is a higher mark than we saw yesterday, and in fact the highest since Monday, May 17th. Since December 31st, 2019, market valuation has risen by 299.34%. This is a new high, counting from Tuesday, May 18th.
Wednesday, May 19th, 2021: Share Price and Market Capitalization at Close of Trading Day.
The share price closed today 0.72% lower than yesterday, settling at KES 2,213.50 (or US$20.51, at the forex rate of US$1:KES107.95). Based on data released by brokers Dyer & Blair, this dip was steeper than those recorded by two NSE Indexes, namely: NSE 20 Index (-0.23%) and NASI (-0.64%).
Local investors continued to be net buyers -- four trading days in a row now. Today they accounted for 74.23% of total market purchases and 11.56% of total market sales. Clearly, they were continuing to "buy the dip", which is a smart way to grow value in a willing seller - willing buyer scenario. Local evidence-based experience continues to suggest that May may be the worst month to sell in -- unless, of course, your life depends on it. But folding one's arms and not buying any low-hanging fruits -- probably because they hang suspiciously low -- is not smart either. May is certainly one of the best months to buy in; but you cannot simply fold your arms and sit on the fence waiting for it all the way from New Year!
YTD, the straight-line of Unashig's share price continues to point upwards, but the angle is narrowing. Today it closed 8.38% higher. Yesterday it was at 9.16%. On Monday it closed at 10.51%.
Unashig's market capitalization closed the day at KES 6,683,051.00 (or US$ 61,908.76). This represented a decline of 0.72% from yesterday's closing number. YTD, however, it closed with a gain of 20.20%. This is of course lower than yesterday's closing level (21.06%), Monday's (22.56%), and last Thursday's (23.34%).
Since December 31st, 2019, market capitalization has maintained a similar trend. However, having started from a much smaller base (and earlier), it has grown more dramatically, end-to-end, and closed today with a 294.90% gain overall.
Tuesday, May 18th, 2021: Share Price and Market Capitalization at Close of Trading Day.
The share price closed today 1.22% lower than we saw it yesterday, settling at KES 2,229.55 (or US$ 20.74, at a new forex rate of US$1:KES107.5).
In contrast, Dyer & Blair figures released this afternoon show that the NSE 20 Index closed lower (by 0.89%), while NASI dropped by 1.11%. A related narrative in today's Business Day newspaper shows that NSE has lost KES 74.1 billion in value in the last one week "as investors cash out on price gains that had lifted the bourse to a 36-month high of KES 2.634 trillion last Monday." It adds that "the combined investor wealth" dropped from KES 2.58 trillion at the end of last trading week to KES 2.56 trillion yesterday (May 17th). That's a 0.78% drop over two consecutive trading days.
It is important to note that cashing out (as Day Traders and others of a similar mind-set like to do) -- merely because the prevailing prices look good and might dip, and planning to return to the market when prices drop to an attractive level -- is not necessarily a value-adding investment strategy. This is so when you take into account the (forgotten) transaction costs of roughly 2.4% at the initial purchase, 2.4% at the sale -- and 2.4% at the next purchase. These costs must feature in investment decision-making.
Foreign investors, as reported by Dyer & Blair, maintained their net selling posture today, accounting for 15.72% of total purchases, and 63.51% of all share sales. Local investors were, significantly, net buyers. Unashig did not purchase or sell any quoted shares today, nor did it sell any CA or CB shares.
YTD, Unashig's share price has continued to stay in positive territory, and closed today with a 9.16% gain. However, unlike fairly recently, the value curve continues to point downwards. It will point upward again, soon enough.
Market Capitalization closed lower today at KES 6,731,258.50 (or US$ 62,616.37); that is, 1.22% lower than yesterday's closing mark. YTD, it has appreciated by 21.06%. Yesterday peaked a little higher, at 22.56%, but this was in fact lower than Thursday's closing number. -- all of which underscores the current downward trend in the valuation curve. Since December 31st, 2019, the curve has, despite recent and other occasional dips, closed today with a 297.75% "straight-line" gain.
Monday, May 17th, 2021: Share Price and Market Capitalization at Close of Trading Day.
The company's share price closed today 0.63% lower than last Thursday's number -- which was the week's last trading day -- and settled at KES 2,257.12 (or US$ 20.06, at a steady forex rate of US$1:KES107.20). In contrast, as broker Dyer & Blair's numbers released earlier today show, the NSE 20 index fell less steeply, by 0.22%; while NASI fell by a larger margin (0.80%) than Unashig's, The NSE 20 Index therefore continues to stay ahead of the "pack".
Foreign investors maintained a net selling posture today, accounting for only 29.04% of all share purchases and 89.87% of all sales. On the other hand, local investors continued to be net buyers -- obviously taking advantage of more affordable share prices. Unashig did not buy any quoted shares today, however; nor were any of the company's CA and CB shares bought.
YTD, Unashig's share price continues on a positive note, even as it temporarily loses some momentum. It closed today 10.51% higher than last year's closing number. However, this was a dip compared to last Thursday -- and has in fact been continuous since May 11th.
Market capitalization dipped by KES 43,560.00 today, closing at KES 6,814,483.50 (or US$ 63,567.95. YTD, it has made a gain of 22.56%. This reflects a dip of less than one percentage point since last Thursday. Since December 31st, 2019, it has had a 302.67% gain in value. However, there have been a number of higher 'peaks' than today's gain represents.
FOR SUMMARIES FOR EARLIER DATES, PLEASE READ: Unashig's Share Price and Market Capitalization: Week of May 10th to 14th, 2021. [A link to even earlier dates will be found there]
