Overview of KASE's equity market in October 2021
10.11.21 15:14
/KASE, November 10, 2021/ – Kazakhstan Stock Exchange (KASE) presents an
overview of the equity market in October 2021.
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Volume,
bn tenge
Chg., % Chg., % -----------------
29 30 since October September
October September 01.01.21 ------- ---------
----------- -------- --------- ------- -------- ------- ---------
KASE Index 3,751.85 3,383.68 +10.88 +40.23 3.6 83.5
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In October, the local stock market showed the largest monthly gain since the
beginning of the year. KASE Index added 10.9 % and closed October at 3,751.85
points. The maximum value of 3,765.00 points was recorded on October 26. At
the same time, the majority of index companies are just getting ready for the
publication of quarterly reports, therefore the market dynamics was driven by
investors' expectations and external factors, and the market will react to the
published financial indicators already in November.
The volume of transactions in index shares in October amounted to 3.6 billion
tenge, which is 95.7 %, or 6.9 billion tenge, less than the same indicator in
September. The largest volume of trades fell on common shares of Kcell JSC –
KZT1.4 bn (38.6% of the total volume of trades in index shares).
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Closing price Chg., % Trading volume, mln tenge
----------------------------- -------- --------------------------
29 30 September Δ, % since October September Δ, %
October 01.01.21
---- --------- ------------- ----- -------- ------- --------- --------
KZAP 18,840.00 15,716.80 +19.9 +163.5 361.1 489.6 -35.6
HSBK 197.51 182.52 +8.2 +59.3 243.6 1,195.9 -77.3
CCBN 332.00 297.21 +11.7 +54.0 428.1 149.3 -85.0
KZTK 36,100.00 34,978.58 +3.2 +35.2 746.3 792.1 -1,709.7
KZTO 1,095.70 1,073.00 +2.1 +13.0 273.7 13,505.9 -336.9
KEGC 1,895.00 1,873.00 +1.2 +11.7 145.2 432.00 -2.8
KCEL 1,751.11 1,319.00 +32.8 -36.6 1,380.2 66,899.20 -4,747.1
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The past month was very busy for the representatives of the banking sector.
Halyk Bank, according to the National Bank of the Republic of Kazakhstan,
became the leader in terms of loan portfolio growth, overtaking its closest
competitor – Kaspi Bank – by 100 billion tenge. The deputy chairman of Halyk
Bank commented that the bank was moving to a fintech strategy with all the
ensuing consequences for price benchmarks. After the release of statistical
data, the securities of Halyk Bank moved to growth and added 8.2% over the
month.
Meanwhile, the Kaspi.kz group of companies itself is actively moving to
expanding into the Ukrainian lending market. This summer, Kaspi bought out the
Ukrainian payment system Portmone, and in October announced a deal to buy a
banking license from BTA-Ukraine bank. Fintech securities reacted to this news
with growth and added 28.9% over the month. Also, the kaspi.kz Group last week
published quarterly reports, according to which the Group's net profit for 9
months of 2021 increased by 69% compared to the same period last year.
Bank CenterCredit common shares continued their growth, having added 11.7%
over the month. Obviously, the catalyst for the growth in the share price is the
reports of the financial regulator – the National Bank of the Republic of
Kazakhstan, according to which the bank's loan portfolio shows a steady growth
while the share of overdue loans decreases.
Another high-profile event of the month was the decrease in Kazakhtelecom's
stake in Kcell from 75% to 51% by selling 48 million shares of the latter at
KASE. Kazakhtelecom has been stabilizing its debt burden for several years now
and after the sale of its stake, Kcell received 55 billion tenge of free cash
for its own purposes. As a result of the month, common shares of Kazakhtelecom
increased in price by 3.2%, and securities of Kcell added 32.8%.
Securities of Kazatomprom took the second place in terms of growth rates
among index shares in October with a result of 19.9%. At the same time, the
entire period of growth fell on 3 trading sessions in mid-October, when
officials from France, Japan and China simultaneously emphasized the importance
of developing nuclear energy, thereby influencing the rise in uranium prices.
The rest of the time the share price was developing horizontally. On October
18, the company announced the launch of a new uranium fund, in which the
National Investment Company of the National Bank will be a co-investor, but
this news did not affect the share price in any way.
For KEGOC, the Committee for the Regulation of Natural Monopolies approved
from October 1, the maximum tariffs for the transportation of electricity for
the next five years. At the same time, compared to 2020, the approved tariffs
have increased. Against this background, the company's shares added 1.2% over
the month. Also, the company this month placed bonds for KZT16.6 bn at 11.5%
per annum. Obviously, KEGOC is working to replace foreign currency loans with
tenge ones, since judging by the financial statements the company has a maturity
date of 14.4 billion tenge of loans denominated in dollars and euros this year.
Kaztransoil reported very modest operating results for the 3rd quarter of this
year. The company's transportation volume as a whole has declined, while
growth is observed in domestic directions and in exports to China. The
company's shares reacted to the publication of operating results with a weak
correction, growth by the end of the month amounted to 2.1%.
KASE's equity market:
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29 October 30 September Chg. Chg., %
----------------------- ---------- ------------ --------- -------
Capitalization, bn KZT 32,893.68 28,930.43 +3,963.25 +13.70
Capitalization, mln USD 76,931.68 67,954.47 +8,967.22 +13.20
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At the end of October, the capitalization of the share market amounted to 32.9
trillion tenge (76.9 billion USD), which is 3.4 trillion tenge or 13.7% higher
than the same indicator of the previous month. The growth of capitalization of
the share market was facilitated by an increase in weighted average prices of
shares of Kcell JSC (KCEL) by 24.7%, Kaspi.kz JSC (KSPI) – by 24.4%, National
Atomic Company Kazatomprom JSC (KZAP) – by 16.7%.
As of the end of October, KASE's trade lists included shares of 136
denominations of 121 issuers, of which shares of four denominations of four
issuers were admitted to circulation in the "Unlisted securities" sector. In the
reporting month, new shares were not included in KASE official list, while
common shares of ATFBank JSC (SB Jusan Bank JSC) were excluded due to
their cancellation.
The volume of trades in shares in October relative to September decreased by
88.7% or 77.4 billion tenge to 9.9 billion tenge, while the number of
transactions, on the contrary, increased by 18.0% to 52,934 transactions. The
average daily volume of trades amounted to KZT469.9 mln, the average daily
number of deals – 2,520.7, the average volume of one deal – KZT186.5 th. In
October, shares were traded exclusively on the secondary market.
Change in prices of shares included in the representative list for
calculating the equity market capitalization, as of October 29, 2021:
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Issuer Price change / Chg., %
(date of last deal)
------------------------------------------- ----------------------------------------- -------
Kcell JSC (KCEL) 1,751.11 (29.10.21) 1,319.00 (30.09.21) 24.7
Kaspi.kz JSC (KSPI) 61,000.00 (29.10.21) 46,100.00 (30.09.21) 24.4
NAC Kazatomprom JSC (KZAP) 18,840.00 (29.10.21) 15,700.00 (30.09.21) 16.7
Kazakhtelecom JSC 26,399.00 (29.10.21) 22,400.01 (30.09.21) 15.1
(KZTKp)
Rakhat JSC (RAHT) 15,900.00 (28.10.21) 14,500.00 (29.09.21) 8.8
Bank CenterCredit JSC (CCBN) 332.00 (29.10.21) 297.21 (30.09.21) 10.5
KM GOLD JSC (KMGD) 1,200.00 (28.10.21) 1,100.00 (30.09.21) 8.3
Halyk Savings Bank of Kazakhstan JSC (HSBK) 197.51 (29.10.21) 182.52 (30.09.21) 7.6
AltynGold plc 1,194.00 (29.10.21) 1,109.52 (30.09.21) 7.1
(GB_ALTN)
Freedom Holding Corp. 28,240.05 (29.10.21) 26,726.81 (30.09.21) 5.4
(US_FRHC)
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[2021-11-11]