For a Background to this series of summaries at the close of each trading day, please READ: "Introduction to Trends in Unashig's CBshare Price and Market Capitalization"
Share Price and Market Capitalization at the Close of Specified Days of the Week.
Friday, July 7th, 2023.
Friday was another winning day for all four indices of interest here. There was another shifting of ranks as well, with NASI climbing from third place to first (by a fairly wide margin); and NSE 25 Index dropping from first to third place. NSE 20 Index fell from second place to fourth, swapping places with CBshare -- which in turn rose from fourth place back to second, and closed at KES1,809.64 (or US$12.84, at today's weaker forex rate of KES140.95 per US$):
1. NASI (NSE All-Share Index): +2.35%
2. CBshare price (25 counters): +1.26%*
3. NSE 25 Index: +1.20%
4. NSE 20 Index: +0.32%.
*** KES1,809.64 (US$12.84) is CBshare's new trading price. This will hold until 5:00 PM, Monday, July 10th, 2023. As is the practice at the Nairobi bourse (and in keeping with Unashig's pegging principle), a buyer will need to add to the stated price the standard stock trading charges that apply at the NSE -- that is, 3.55% of the price of each CBshare bought (up to 9 CBshares in one day's transaction).
Unashig's market capitalization also recorded a 1.26% jump, closing at KES6,266,075 (or US$44,456.01, at the indicated forex rate). This is the highest level of gain since April 6th this year. The wait has been long and tedious, even though we've witnessed semblances of 'recovery' since early June.
On a YTD (Year-To-Date) basis, the price of a CBshare recovered a little further, to -4.60%. Unashig's market capitalization also made some gains, reducing its dip, YTD, from -3.55% yesterday to -2.34% today. The contraction in market capitalization at the Nairobi Securities Exchange, as a whole, also eased a little more (-13.64%), YTD, from yesterday's level (-14.14%).
Looking farther back to end-of-year 2021, Unashig's market capitalization has reduced its loss level -- from -17.66% to -16.63% today. Likewise, the erosion in NSE's market capitalization has eased somewhat, from -33.85% yesterday to -33.46% today -- all due to the stock market's latest valuation of KES1.74 trillion.
Thursday, July 6th, 2023.
All four metrics in our gaze closed on a winning note today, but the rank order was, yet again, shuffled. Thus, NSE 25 Index moved from second place to first, while NSE 20 Index slipped from first to second. CBshare and NASI swapped the third and fourth spots as well, as seen in Thursday and Wednesday rankings -- with CBshare closing in the fourth place today, at KES1,787.15 (or US$12.69, at today's 'steady' forex rate of KES140.80 per US$):
1. NSE 25 Index: +1.14%
2. NSE 20 Index: +0.93%
3. NASI (NSE All-Share Index): +0.75%
4. CBshare price (25 counters): +0.07%*.
Unashig's market capitalization made the same percentage gains as we saw yesterday (+0.07%), to close a little higher at KES6,188,200.00 (or US$43,950.28, at the indicated forex rate).
On a YTD (Year-To-Date) basis, the price of a CBshare pared its loss level a little further, to -5.78% at today's close. Unashig's market capitalization showed some gains as well, reducing the level of contraction, YTD, from -3.62% on Wednesday to -3.55% today. The contraction in market capitalization at the Nairobi Securities Exchange, as a whole, eased a little more (-3.55%), YTD, than we saw yesterday (-14.65%).
Looking farther back to end-of-year 2021, Unashig's market capitalization has slightly reduced its loss level -- from -17.72% yesterday to -17.66% at today's close. Likewise, the erosion in NSE's market capitalization has eased slightly from -34.24% on Wednesday to -33.85% today -- all due to the stock market's latest valuation of KES1.70 trillion today.
Wednesday, July 5th, 2023.
Only three out of the four metrics that we usually track here made gains today. Performance varied -- and so gave us the new pecking order shown below.
As pointed out in earlier posts, it is highly unlikely for any of the indices in our focus to maintain the same percentage-based, performance-ranking day in and day out. Variations in performance, over time, are inevitable. This is so for two main, and related, reasons:
(a) No index or strategy can keep outperforming itself (let alone the competition) from one trading day to another -- week after week, or season after season. In other words, no investment strategy can assure a certain -- a steady -- growth rate;
(b) No stock-picking/aggregating formula can assure the picker or aggregator of a consistent stay at the top of the performance ladder.
Certainly, deep (or even the deepest) pockets do not necessarily assure one of consistent wins -- though they may enable the investor to shrug off losses or bad judgments, or to 'dilute' them -- and live to 'invest' another day or season.
Today's numbers help us to see that the NSE20 Index jumped to the top of the heap today, with a 0.47% gain. NSE25 Index (+0.29%) followed -- and thus retained the second spot (+0.29%) -- for the third day in a row. CBshare (+0.07%) dropped to third, after four consecutive trading days at the top. It closed at KES1,785.84 (or US$12.68, at today's forex rate of KES140.80 per US$):
1. NSE 20 Index: +0.47%
2. NSE 25 Index: +0.29%
3. CBshare price (25 counters): +0.07%*
4. NASI (NSE All-Share Index): -0.20%.
Unashig's market capitalization made the same gains (+0.07%), to close at KES6,183,684.00 (or US$43,919.21, at the indicated forex rate).
On a YTD (Year-To-Date) basis, the price of a CBshare improved further, reducing its loss level (from -5.92% on Tuesday) to -5.85% at today's close. Unashig's market capitalization showed some gains as well, reducing the YTD loss level from -3.69% on Tuesday to -3.62% today. Market capitalization at the Nairobi Securities Exchange, as a whole, remained unchanged, YTD, having closed at -14.65% today, as it did yesterday (Tuesday).
Looking farther back to end-of-year 2021, Unashig's market capitalization slightly reduced its loss level, from -17.78% yesterday to -17.72% at today's close. However, NSE's market capitalization contraction remained unchanged, at 34.24%, from this Tuesday to today -- all due to an improved valuation of KES 1.69 trillion.
Tuesday, July 4th, 2023.
A technical hitch forced a 24-hour(+) delay in releasing Tuesday numbers, but here they are at last. All indices closed in positive territory -- for the second day. CBshare maintained the lead for the fourth day -- but, as shown below, with obviously reduced steam (+0.53%). It closed at KES1,784.63 (or US$12.68, at a forex rate of KES140.75 per US$). NSE 25 Index also retained the second spot (+0.49%), while NSE 20 Index finished third (+0.41%). NASI, on the other hand, slipped back to fourth place. The numbers are shown here below:
1. CBshare price (25 counters): +0.53%*
2. NSE 25 Index: +0.49%
3. NSE 20 Index: +0.41%
4. NASI (NSE All-Share Index): +0.40%.
Unashig's market capitalization made the same gains (+0.53%), to close at KES6,179,473.00 (or US$43,903.89, at the indicated forex rate).
On a YTD (Year-To-Date) basis, the price of a CBshare improved further, reducing its loss level (from -6.41% on Monday) to -5.92% at today's close. Unashig's market capitalization showed some gains as well, reducing the YTD loss level from -4.20% on Monday to -3.69% today. Likewise, Market capitalization at the Nairobi Securities Exchange, as a whole, showed some improvement, YTD, as it closed at -14.65% today, compared to -15.15% yesterday (Monday).
Looking farther back to end-of-year 2021, Unashig's market capitalization reduced its loss level slightly from -18.21% yesterday to -17.78% at today's close. NSE's market capitalization loss level also eased marginally -- from -34.63% on Monday to -34.24% today -- due to a new valuation of KES 1.69 trillion.
Monday, July 3rd, 2023.
CBshare continued in top gear for the third trading day -- with a +1.29% performance. It closed at KES1,775.20 (or US$12.62, at a still wobbly forex rate of KES140.70 per US$). NSE 20 Index fell back to fourth place, however; while NSE 25 Index jumped from fourth to second. NASI ranked third for the third consecutive day, as we see below:
1. CBshare price (25 counters): +1.29%*
2. NSE 25 Index: +0.83%
3. NASI (NSE All-Share Index): +0.74%
4. NSE 20 Index: +0.59%.
Unashig's market capitalization made a 1.29% gain as well, at KES6,146,818 (or US$43,687.40, at the indicated forex rate). This is the highest valuation since April 11h, 2023 -- when it closed at KES 6,178,515.00 (or US$46,235.99, at the then prevailing forex rate of KES133.63 per US$).
This surge is attributable in part to a 'minor' shuffling, mostly last week and today, of the 25 stocks in Unashig's portfolio. We dropped KenGen and Sanlam (i.e. Pan African) entirely, and reallocated/'relocated' some assets to two new 'acquisitions': Absa and BAT. We also moved some cash away from Equity and KCB in order to enhance the value-adding potential of Crown Paints, EABL, Cooperative Bank, Diamond Trust Bank, and NCBA Bank. Full details will be found in the CDSC statement scheduled to appear 'at the end' of this July.
On a YTD (Year-To-Date) basis, the price of a CBshare improved further, paring its loss level to -6.41% -- compared to -7.61% last Friday. Unashig's market capitalization made gains as well (at -4.20%), YTD, compared to yesterday's level (-5.42%). Market capitalization at the Nairobi Securities Exchange, as a whole, also improved somewhat, YTD, closing at -15.15%.
Looking farther back to end-of-year 2021, Unashig's market capitalization was palpably improved (-18.21%) compared to the previous trading day's level (-19.26%). Moreover, the overall contraction at the NSE eased (-34.63%), in step with a new valuation of KES 1.68 trillion.
SHAREHOLDERS ARE REMINDED THAT While share trading is not Unashig's core business, it is an important aspect of an enterprise such as ours. Unashig is a limited liability company registered under Kenya's Companies Act. It is wholly owned by its registered shareholders, currently numbering 249. Investing the amounts generated through the periodic sale of issued CBshares in dividend/income-generating ventures is a prudent and indeed surer way of growing the company. Surer, certainly, than spending it on routine office activities. The average number of CBshares held per shareholder remains very low, however. This is not conducive to rapid capital/asset growth, or the generation of substantial and distributable dividend income. For over 12 months, the value of our CBshare has proven that Unashig's investment decisions continue to be competitive with, and quite frequently superior to, those pegged on the trajectory of any, or often all, of the three active NSE indices.
FOR SUMMARIES FOR EARLIER DATES, PLEASE READ: " UNASHIG's Share Price and....Capitalization, June 26th to June 30th 2023"
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