Overview of KASE equity market in March 2022

06.04.22 16:28
/KASE, April 6, 2022/ – Kazakhstan Stock Exchange ( KASE ) presents an overview of the equity market in March 2022. As a result of March, the decrease in KASE index was less than 1%, despite significant fluctuations during the month. From March 1 to March 9, the local equity market index lost 11.7 %, dropping to its lowest value since the beginning of the year – 2,969.32 points. In the next two trading sessions – March 9 and 10, KASE index almost completely restored the decline and continued to develop in a narrow corridor until the end of March. As a result of trading on March 31, the value of the Index was fixed at the level of 3,348.63 points. ---------------------------------------------------------------------- Volume, billion tenge Change, % Change, % -------------- March 31 February 28 from 01.01.22 March February ---------- -------- ----------- --------- ------------- ----- -------- KASE Index 3,348.63 3,361.98 - 0.40 -8.89 9.90 6.2 ---------------------------------------------------------------------- The past month was quite rich in corporate events of Kazakhstan's public companies. All representatives of the index basket, with the exception of the national power grid operator KEGOC, reported their annual financial results. Some of them announced the appointment of dates for annual meetings of shareholders, and recommendations of the boards of directors on the size of dividend payments. At the same time, the continuing unstable geopolitical situation exerted significant pressure on securities quotes. Under the influence of a combination of multidirectional factors, shares of the index basket closed the month mainly in the green zone. The exception was shares of Halyk Bank, the dynamics of the value of which during the month was characterized by a sideways trend without pronounced fluctuations, as well as shares of Kaztransoil. The volume of deals in index shares in March amounted to 9.9 billion tenge, which is 60.6 %, or 3.7 billion tenge, higher than the same indicator for February. The largest trading volume fell on Kcell common shares – 7.9 billion tenge (79.8 % of the total trading volume with index shares). ---------------------------------------------------------------------- Closing price Change, % Trading volume, million tenge ------------------------- --------- ----------------------------- March 31 February Δ, % from March February Δ, % 28 01.01.22 ---- --------- --------- ----- --------- -------- --------- ---------- CCBN 389.00 375.01 + 3.7 -2.3 155.5 79.5 +95.6 KZAP 15,100.00 14,869.00 + 1.6 -10.6 502.6 346.4 + 45.1 KEGC 1,866.98 1,853.22 + 0.7 -0.2 42.6 54.6 -22.0 KCEL 1,712.00 1,701.00 + 0.6 + 5.2 7,905.5 421.3 + 1,776.5 KZTK 31,050.00 31,000.00 + 0.2 -13.3 158.7 1,157.9 -86.30 KZTO 1,014.00 1,050.00 -3.4 -7.3 281.9 446.5 -36.90 HSBK 126.38 133.99 -5.7 -32.4 861.5 3663.9 -76.50 ---------------------------------------------------------------------- Securities of other representatives of the banking sector were among the most volatile and multidirectional. Common shares of Kaspi.kz grew by 4.1% on KASE in March, while GDRs fell by 16.5% on the London Stock Exchange. During the month, the company reported a net profit of 435.2 billion tenge against 263.3 billion tenge in 2020. On March 24, the meeting of Kaspi.kz shareholders decided to allocate 538.6 billion tenge for the payment of dividends, which is equivalent to 2,700 tenge per share. Dividend income, therefore, will be about 9% per annum. Shares of Bank CenterCredit added 3.7% over the month. According to annual reports, the bank's net profit for 2021 more than doubled – from 8.6 billion to 18.5 billion tenge. From March 15 to March 18, the bank paid 11.7 billion tenge in the form of dividends on preferred shares. There were no recommendations on the payment of dividends on common shares. Meanwhile, on March 24, the bank redeemed a bond issue for 26.5 billion tenge, and the board of directors of its subsidiary BCC Invest decided to additionally issue 415 million ordinary shares at a price of 2.4 tenge per share. Common shares of Halyk Bank at KASE decreased in price by 5.7%, while the decrease in the price of GDRs on the London Stock Exchange amounted to only 2.3%. The group reported a net profit of 462.4 billion tenge against 352.7 billion tenge in 2020. However, the board of directors recommended not to spend the net profit to the payment of dividends. In turn, common shares of Kazatomprom rose by 1.6% on the local market, while its GDRs added 8.5% on the London floor and entered the list of the first class liquidity of Kazakhstan Stock Exchange. The company has become one of the main beneficiaries of the EU's decision to accelerate the transition to alternative energy sources. Against this background, uranium futures quotes rose by 21% - from 48.4 to 58.6 dollars per pound. Meanwhile, Kazatomprom's annual net income was at the level of 220 billion tenge against 221.4 billion tenge a year earlier due to long-term price fixing in contracts. The Board of Directors did not make recommendations on the payment of dividends. Shares of telecommunications companies – Kcell and Kazakhtelecom added 0.8% and 0.2%, respectively, in price over the month. The consolidated profit of the group for 2021 increased from 65.3 to 97.4 billion tenge. On March 14, Kazakhtelecom's Board of Directors recommended to allocate 39.5 billion tenge for the payment of dividends, which in terms of one share is 3,590.39 tenge. The annual meeting of shareholders, which will consider the distribution of net profit, is scheduled for April 29. KASE equity market: At the end of March 2022, the capitalization of the equity market amounted to 23.3 trillion tenge (50.9 billion USD), which is 0.2 trillion tenge, or 0.8%, higher than the same indicator of the previous month. As of the end of March, shares of 161 titles of 147 issuers were listed on KASE, of which shares of three titles of three issuers were admitted to circulation in the "Unlisted securities" sector. In the reporting month, no new shares were included or excluded in KASE official list. The volume of trading in shares in March against February increased to 13.3 billion tenge, an increase of 28.7%, or 3.0 billion tenge. At the same time, the number of deals decreased by 33.7% to 33,939. The average daily trading volume amounted to KZT698.7 mln, the average daily number of deals – 1,786.3, the average volume of one deal – KZT391.1 th. Shares were traded in March exclusively on the secondary market. ---------------------------------------------------------------------- 31 March 28 February Change Change, % --------------------------- --------- ----------- ---------- --------- Capitalization, billion KZT 23,336.55 23,147.99 +188.56 + 0.8 % _ Capitalization, million USD 50,930.93 49,557.89 + 1,373.04 + 2.8 % _ ---------------------------------------------------------------------- Change in the prices of shares included in the representative list for calculating the capitalization of the equity market, as of March 31, 2022: --------------------------------------------------------------------------- Issuer Price change / Change, % (date of last transaction) ----------------------- ----------------------------------------- --------- Tengri Partners 2,500.00 (29.03.22) 1450.00 (27.04.21) + 42.0 Investment Banking (Kazakhstan) JSC (TPIB) Mangistaumunaigaz JSC 6,300.00 (18.03.22) 6,000.00 (28.02.22) + 4.8 (MMGZp) Kazakhtelecom JSC 31,050.00 (31.03.22) 31,000.00 (28.02.22) + 0.2 (KZTK) KM GOLD JSC (KMGD) 200.00 (31.03.22) 850.05 (28.02.22) -325.0 Halyk Savings Bank of 126.38 (31.03.22) 133.99 (28.02.22) -6.0 Kazakhstan JSC (HSBK) NOSTRUM OIL & GAS 51.00 (30.03.22) 54.00 (28.02.22) -5.9 PLC (GB_NTRM) ForteBank JSC (ASBN) 5.35 (31.03.22) 5.48 (28.02.22) -2.4 --------------------------------------------------------------------------- [2022-04-06]