December 31, 2013 / 4:37 PM / 4 years ago

UPDATE 1-Kenyan stocks post 19.2 pct gain for 2013

(Adds year-end figures, analyst comment)
    NAIROBI, Dec 31 (Reuters) - Kenya's main share index rose on
Tuesday to record a 19.2 percent gain for 2013, helped by east
Africa's biggest telecoms operator, Safaricom, which
doubled in price during the year.
    The Kenyan shilling, which is up 0.2 percent against the
dollar in 2013, was a touch firmer on Tuesday. At 1300 GMT,
commercial banks quoted the shilling at 86.20/40, from Monday's
close of 86.30/50.
    The benchmark NSE-20 Share Index rose 0.8 percent
on the day to finish the year at 4,926.97 points, having reached
record highs several times in 2013.
    Analysts say Kenya's index, like many other African bourses,
has benefited from multi-billion dollar pension funds and other
global investors increasing their allocation to the continent
and its expanding economies.
    Aly Khan Satchu, an independent analyst, said this trend had
created demand for "big cap, blue-chip African equities".
    Safaricom, the bourse's most capitalised stock by some
distance, soared 115 percent during the year. Several Kenyan
banks which have an expanding foothold in fast-growing east
African economies also saw their share price rise.
    Kenyan equities, which gained 29 percent in 2012, also
benefited from a smooth general election in 2013, in contrast to
a disputed 2007 poll when ethnic violence crippled trade and
brought the economy to its knees.
    "Lower interest rates and lower inflation have also helped
to make Kenyan equities attractive," added Satchu, who also
invests money on behalf of private investors. "I foresee a
similar performance next year."
    Kenyan markets will be closed on Wednesday for the New Year
holiday.

    
 ...........................Shilling spot rates 
 .....................Shilling forward rates 
  .......................Cross rates 
..................................Local contributors 
.......................Central Bank of Kenya Index 
.....................Kenyan Bonds contributor pages 
  ...............Treasury bill yields 
..................Central bank open market operations 
.........................Horizontal repo transactions 
,................Daily interbank lending rate 
.............................Kenya Bond pricing 
..................Real time Africa economic data 
 <ECI & AFR> ...........................African economic news 
.................................NSE-20 Share Index 
.................................NSE All Share Index 
...........................FT NSE Kenya 15 Index 
.......................... FT NSE Kenya 25 Index 
  SPEED GUIDES:     
 
 

 (Reporting by Drazen Jorgic; Editing by Susan Fenton)

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