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, August 4th, 2023.
All four indices closed the week on a positive note. NSE 20 Index (+0.74%) jumped back to the first place today, as NSE 25 Index (+0.50%) closed in second place. CBshare (+0.38%) gained some steam, but slid to third. Still, its price rose to KES 1777.44 (or US$12.50, at a relatively stronger forex rate of KES142.24 per US$):
1. NSE 20 Index: +0.74%
2. NSE 25 Index: +0.50%
3. CBshare price (25 counters): +0.38%*
4. NASI (NSE All-Share Index): +0.22%.
[NOTE: As of August 3rd, 2023, and going back many months, a total of 56 active counters could be tracked on NSE's electronic Trading Floor-cum-Platform. In updating the count, Unashig excluded the following seven counters due to their lack of detectable, or regular, activity on the platform: Homeboyz, Uchumi, KPLC (two Preference Share categories), Kurwitu, Kenya Airways, and Mumias Sugar. Some of these are officially suspended].
*** KES1,777.44 (US$12.50) is, therefore, CBshare's new trading price. It will hold until 5:00 PM, Monday, August 7th, 2023. As is the practice at the Nairobi Securities Exchange (NSE), 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 Shareholders are reminded that we only need to purchase another 42 CA and/or CBshares in total in order to own 50% of Unashig's authorized shares. It is expected that this target will be hit by mid-September this year, as Members arrange to renew their annual health insurance.
Unashig's market capitalization appreciated by 0.38% as well, to close at KES6,154,574/- (or US$43,268.94, at today's forex rate).
YTD (Year-To-Date), CBshare has marginally reduced its loss to -6.29%. The contraction in Unashig's market capitalization has also eased (-4.08%). Market capitalization at the Nairobi Securities Exchange, as a whole, has also gained some ground, YTD, even though it remains relatively weak (at -16.16%), YTD.
Looking farther back to end-of-year 2021 -- when Unashig closed at KES7,515,735.50 -- we see marginal improvement in Unashig's market capitalization today (-18.11%), compared to Thursday's level (-18.42%). Likewise, market capitalization at the NSE as a whole slightly improved to -35.41%, compared to Thursday's level (-35.80%). NSE's valuation closed on a higher note today, at KES1.66 trillion.
Thursday, August 3rd, 2023.
Three metrics gained today. Yesterday's 'chart topper', NSE 20 Index (-0.16% today), wasn't among them, however, as we see below. It fell to fourth place. NASI (+0.13%) moved from fourth place to third today. NSE 25 Index (+0.40%) jumped from third place yesterday to first today. CBshare (+0.30%), on the other hand, retained its ranking at number 2, for the second day. Its price rose marginally to KES1,770.72 (or US$12.40, at a weaker forex rate of KES142.80 per US$):
1. NSE 25 Index: +0.40%
2. CBshare price (25 counters): +0.30%*
3. NASI (NSE All-Share Index): +0.13%
4. NSE 20 Index: -0.16%.
Unashig's market capitalization also appreciated by 0.30%, to close at KES6,131,302/- (or US$42,936.29, at today's weaker forex rate).
YTD (Year-To-Date), CBshare has marginally reduced its loss as of today (-6.65%), versus -6.93% yesterday. Unashig's market capitalization contraction has also eased somewhat (-4.44%), compared to -4.73% at yesterday's close. However, market capitalization at the Nairobi Securities Exchange, as a whole, remained unchanged today, at -16.67%, YTD.
Looking farther back to end-of-year 2021 -- when Unashig closed at KES7,515,735.50 -- we see marginal improvement in Unashig's market capitalization today (-18.42%), (-18.67%), compared to Wednesday's level (-18.67%). Likewise, market capitalization at the NSE as a whole remained steady today (-35.80%), compared to Wednesday's level (-35.80%). The 'suspect' here is NSE's valuation, which was unchanged today at KES1.65 trillion.
Wednesday, August 2nd, 2023.
Only two out of four metrics showed some gains today, as we see below. NASI (-1.01%) dropped from first to fourth place. NSE 20 Index (+0.36%) jumped from fourth to first place, while CBshare (+0.04%) edged a rung higher to second place. CBshare's price rose marginally to KES1,765.36 (or US$12.37, at a lower forex rate of KES142.75 per US$):
1. NSE 20 Index: +0.36%
2. CBshare price (25 counters): +0.04%*
3. NSE 25 Index: -0.61%
4. NASI (NSE All-Share Index): -1.01%.
Unashig's market capitalization also appreciated by 0.04%, to close at KES6,112,747/- (or US$42,821.35, at today's weaker forex rate).
YTD (Year-To-Date), CBshare has marginally reduced its loss (-6.93%), versus -6.96% yesterday. Unashig's market capitalization contraction has eased somewhat (-4.73%), compared to -4.76% at yesterday's close). Market capitalization at the Nairobi Securities Exchange, as a whole, weakened (-16.67%) -- compared to Tuesday's level (-15.66%), YTD.
Looking farther back to end-of-year 2021 -- when Unashig closed at KES7,515,735.50 -- we see marginal improvement in Unashig's market capitalization today (-18.67%), compared to Tuesday's level (-18.70%). On the other hand, market capitalization at the NSE as a whole weakened a little more today (-35.80%), compared to Tuesday's level (-35.02%). NSE's valuation also closed lower today, at KES1.65 trillion (compared to KES1.67 trillion on Tuesday.
Tuesday, August 1st, 2023.
All four metrics made gains today, as shown below. NASI (+1.32%) expanded yesterday's lead. CBshare's intrinsic performance (+0.69%) also improved, even as it fell to third in the ranking -- which allowed NSE 25 Index (+0.80%) to replace it in the second position. Its (CBshare's) price rose marginally to KES1,764.73 (or US$12.38, at a weaker forex rate of KES142.60 per US$):
1. NASI (NSE All-Share Index): +1.32%
2. NSE 25 Index: +0.80%
3. CBshare price (25 counters): +0.69%*
4. NSE 20 Index: +0.13%.
Unashig's market capitalization also edged up (+0.69%), to close higher at KES6,110,589/- (or US$42,851.26, at today's forex rate).
YTD (Year-To-Date), CBshare has further reduced its loss (-6.96%), versus -7.60% on Monday. Unashig's market capitalization has also made slight improvement, YTD, (-4.76%), compared to -5.42% yesterday. Market capitalization at the Nairobi Securities Exchange, as a whole, has also recouped some losses (-15.66%) versus Monday's level (-16.67%), YTD.
Looking farther back to end-of-year 2021 -- when Unashig closed at KES7,515,735.50 -- we see that Unashig's market capitalization improved very marginally today (-18.70%), compared to Monday's level (-19.26%). Market capitalization at the NSE as a whole also ticked upward (-35.02%) compared to Monday's level (-35.80%). Overall, it remained stuck in the loss mode. Rather confoundingly, the stock market's valuation closed higher today -- at KES1.67 trillion.
Monday, July 31st, 2023.
As shown below, two indices made some gains today, while two others recorded futher losses. In terms of relative performance, NASI (+0.19%) jumped from fourth on Friday to first today. CBshare (+0.10%) retained its second position, with its price improving slightly to KES1,752.60 (or US$12.31, at a forex rate unchanged at KES142.40 per US$):
1. NASI (NSE All-Share Index): +0.19%
2. CBshare price (25 counters): +0.10%*
3. NSE 20 Index: -0.03% [Corrected]
4. NSE 25 Index: -0.37% [Corrected].
*** KES1,752.60 (US$12.31) is therefore CBshare's new trading price. This price will hold until 5:00 PM, Tuesday, August 1st, 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 appreciated at the same rate (+0.10%) as CBshare, to close a little higher at KES6,068,557/- (or US$42,616.27, at today's forex rate).
YTD (Year-To-Date), the price of a CBshare has improved slightly (-7.60%), versus -7.70% on Friday. Unashig's market capitalization has also recorded marginal improvement, YTD, (-5.42%, compared to -5.51% on Friday). Market capitalization at the Nairobi Securities Exchange, as a whole, has also recorded marginal recovery (-16.67%) versus Friday's performance (-17.17%), YTD.
Looking farther back to end-of-year 2021 -- when Unashig closed at KES7,515,735.50 -- Unashig's market capitalization improved very marginally today (-19.26%), compared to Friday's level of -19.33%. Market capitalization at the NSE as a whole also ticked upward (-35.80%), so to speak, from Friday's level (-36.19%). In this chicken-and-egg situation, the stock market's valuation provided the 'umbrella cover', closing higher at KES1.65 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, July 24th to July 28th 2023"
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