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 14th, 2023.
This week ends with a trail of volatility in performance rankings among our four indices. Thus, as keen readers will recall, three metrics -- led by NASI (+1.45%) -- closed Monday with some percentage gains; while one lost ground. On Tuesday, however, all metrics recorded some gains, with NSE 25 Index leading the pack (+0.75%). On Wednesday, NSE 25 Index (+0.25%), closed at the top once again. CBshare was ranked fourth (with a -0.01% score), and was the only one with a loss. On Thursday, NSE 25 Index once again closed at the top (+3.38%); while CBshare closed third (-0.17%) -- ahead only of NASI (-0.24%).
At today's close, CBshare (+0.31%) swung back to first place, as we see below. It was the only index with a percentage gain, closing as it did at KES1,834.97 (or US$12.97, at the still tanking forex rate of KES141.45 per US$). NSE 25 Index (-3.14%), on the other hand, dropped from first to fourth place:
1. CBshare price (25 counters): +0.31%*
2. NSE 20 Index: -0.16%
3. NASI (NSE All-Share Index): -0.24%
4. NSE 20 Index: -0.16%.
*** KES1,834.97 (US$12.97) is CBshare's new trading price. This will hold until 5:00 PM, Monday, July 17th, 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 closed notably higher today (+0.31%) as well, at KES6,353,798/- (or US$44,919.04, at the day's forex rate).
On a YTD (Year-To-Date) basis, the price of a CBshare continued to pull back from its reduced value. It closed at -3.26%, compared to yesterday's level (-3.56%). Unashig's market capitalization also clawed back some gains -- closing 'higher' today, at -0.97%, compared to yesterday's -1.28% level -- YTD. Market capitalization at the Nairobi Securities Exchange, as a whole, remained unchanged today (-10.10%), compared to yesterday in YTD terms.
Looking farther back to end-of-year 2021 -- when Unashig's valuation closed at KES7,515,735.50 -- we see that the company's market capitalization challenges are somewhat eased today (-15.46%), compared to -15.72% yesterday. However, the weakness in market capitalization at the NSE as a whole remained unchanged today (at -30.74%), compared to yesterday. The stock market's latest valuation was unchanged today, at KES1.78 trillion.
Thursday, July 13th, 2023.
NSE 25 Index scored further gains today (+3.38%) to finish first for the third day in a row. Likewise, with a 0.56% gain, NSE 20 Index (+0.45%) moved up to from third to second place. CBshare moved a step higher, to third place, despite negative performance this Thursday (-0.17%). Its price dipped to KES1,829.23 (or US$12.94, at today's forex rate of KES141.40 per US$):
1. NSE 25 Index: +3.38%
2. NSE 20 Index: +0.45%
3. CBshare price (25 counters): -0.17%*
4. NASI (NSE All-Share Index): -0.24%.
*** KES1,829.23 (US$12.94) is CBshare's new trading price. This will hold until 5:00 PM, Friday, July 14th, 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 closed a notch lower today (-0.17%) as well, at KES6,333,922.50 (or US$44,794.36, at the day's forex rate).
On a YTD (Year-To-Date) basis, the price of a CBshare continued to fall, albeit marginally (-3.56%), compared to yesterday's level (-3.40%). Unashig's market capitalization also contracted (-1.28%), YTD. Market capitalization at the Nairobi Securities Exchange, as a whole, closed a little lower (-10.10%), YTD -- indeed, back to the level we saw two days ago.
Looking farther back to end-of-year 2021 -- when Unashig's valuation closed at KES7,515,735.50 -- one sees that the company's market capitalization is a notch lower today (-15.72%), compared to -15.58% yesterday. However, there was some slide in market capitalization at the NSE as a whole today (-30.74%) -- which was lower than we saw yesterday (-30.35%). These dips since 2021 have most probably been nudged by the stock market's latest valuation of KES1.78 trillion.
Wednesday, July 12th, 2023.
As shown below, NSE 25 Index made further gains today (+0.59%) to finish first for the second day in a row. Likewise, with a 0.56% gain, NASI secured second place in the ranking order for the second consecutive day. CBshare, on the other hand, underperformed (-0.01%) and dropped to four place. It closed at KES1,832.29 (or US$12.98, at today's unchanged forex rate of KES141.20 per US$):
1. NSE 25 Index: +0.59%
2. NASI (NSE All-Share Index): +0.56%
3. NSE 20 Index: +0.21%
4. CBshare price (25 counters): -0.01%*.
*** KES1,832.29 (US$12.98) is CBshare's new trading price. This will hold until 5:00 PM, Thursday, July 13th, 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 ticked a little lower today (-0.01%), to close at KES6,344,494/- (or US$44,932.68, at the day's forex rate).
On a YTD (Year-To-Date) basis, the price of a CBshare remained unchanged (at -3.40%). Unashig's market capitalization, on the other hand, dipped slightly lower to -1.12%, YTD. Market capitalization at the Nairobi Securities Exchange, as a whole, closed at -9.60%, YTD, compared to yesterday's -10.10% level.
Looking farther back to end-of-year 2021 -- when Unashig's valuation closed at KES7,515,735.50 -- one sees that there was no further decline in the company's market capitalization today, as it closed at -15.58% (just as it did the day before). However, there was some slide in market capitalization at the NSE as a whole today (-30.35%) -- which, however, was an improvement on yesterday's level (-30.74%). The easing was likely helped along (i.e. underpinned) by the stock market's latest valuation of KES1.79 trillion.
Tuesday, July 11th, 2023.
NSE 25 Index climbed further (+0.79%), to finish the day in first place; while NASI (+0.75%) slid from first to second place. CBshare dropped to third (+0.37%), at KES1,832.39 (or US$12.98, at today's forex rate of KES141.20 per US$). Here, in sum, is how the four metrics ranked against each other:
1. NSE 25 Index: +0.79%
2. NASI (NSE All-Share Index): +0.75%
3. CBshare price (25 counters): +0.37%*
4. NSE 20 Index: +0.27%.
*** KES1,832.39 (US$12.98) is CBshare's new trading price. This will hold until 5:00 PM, Wednesday, July 12th, 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 rallied today (+0.37%), to close at KES6,344,840/- (or US$44,935.13, at the day's forex rate). This is the second-highest mark since March 7th this year, when it closed at KES6,423,653/-.
On a YTD (Year-To-Date) basis, the price of a CBshare appreciated a little further (to -3.40%), from the -3.75% level seen yesterday. Unashig's market capitalization also posted some gains, YTD; from -1.47% yesterday to -1.11% today. Market capitalization at the Nairobi Securities Exchange, as a whole, also pointed to some recovery, YTD; from -11.11% yesterday to -10.10% today.
Looking farther back to end-of-year 2021, we see that Unashig's market capitalization has shed its nagging loss level even further; from -15.89% yesterday to -15.58% today. Likewise, the decline in market capitalization at the NSE as a whole has continued to ease; from -31.52% yesterday to -30.74% today -- even as the stock market's latest valuation has risen to KES1.78 trillion.
Monday, July 10th, 2023.
This first day of the new week closed with three out of the usual four metrics showing further gains. Each retained the same performance ranking as it closed with last Friday, as we see below. NSE 20 Index was the odd one out, in that it reported a -0.36% decline. CBshare closed at KES1,825.71 (or US$12.94, at today's even weaker forex rate of KES141.10 per US$). Even if this may look like a snail's pace, today's trendline already hints at a gradual return to the price-per-share level (KES2,000/-) with which we launched Unashing a few years ago. Indeed, to those shareholders who bought their CA and CBshares in the last 12 months or so, at prices per share relatively or significantly below KES1,800/-, the current trajectory suggests that they are beginning to compute reasonable gains. Hopefully, these gains will continue to be more tangible:
1. NASI (NSE All-Share Index): +1.45%
2. CBshare price (25 counters): +0.89%*
3. NSE 25 Index: +0.75%
4. NSE 20 Index: -0.36%.
*** KES1,825.71 (US$12.94) is CBshare's new trading price. This will hold until 5:00 PM, Tuesday, July 11th, 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 showed a 0.89% rally, closing at KES6,321,720.50 (or US$44,803.12, at the indicated forex rate). This is the highest level of gain since March 7th this year.
On a YTD (Year-To-Date) basis, the price of a CBshare recovered some more, to -3.75% (from the -4.60% level recorded last Friday). Unashig's market capitalization recorded some gains, YTD, from -2.34% last Friday to -1.47% today. The contraction in market capitalization at the Nairobi Securities Exchange, as a whole, also eased to -11.11%, YTD, from last Friday's level (-13.64%).
Looking farther back to end-of-year 2021, Unashig's market capitalization has pared its loss level -- from -16.63% last Friday to -15.89% today. Likewise, the erosion in NSE's market capitalization has continued to ease, from -33.46% last Friday to -31.52% today -- all due to the stock market's latest valuation of KES1.76 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.
