Overview of KASE stock market in March 2024

/KASE, April 19, 2024/ – Kazakhstan Stock Exchange (KASE) presents an overview of the stock market in March 2024. KASE Index value in March increased by 5.7 % and by the end of the month amounted to 5,077.84 points. ----------------------------------------------------------------- Volume, bn tenge March 29 February 29 Δ, % Δ, % -------------- ----- -------- from 01.01.24 March February ---------- -------- ----------- ---- ------------- ----- -------- KASE index 5,077.84 4,803.18 +5.7 +21.3 11.33 12.55 ----------------------------------------------------------------- The volume of trading on the stock market in March amounted to 13.3 bn tenge, having decreased by 84.2 %, or 71.1 bn tenge, compared to February. At the same time, the number of transactions decreased by 16.7 % to 145,553. No transactions were made on the primary market. The average daily trading volume was 782.3 mln tenge, the average daily number of transactions was 8,562, the average volume of one transaction was 91.4 thousand tenge. The volume of transactions with index shares in March amounted to 1.1.3 bn tenge, which is 1.2 mln tenge less than in February. The largest trading volume fell on common shares of Air Astana JSC – 3.1 bn tenge (27.0 % of the total trading volume with index shares). ---------------------------------------------------------------- Last price, Δ, % Trading volume, tenge per share mln tenge --------------------------- -------- ---------------------- -------- March 29 February 29 Δ, % from March February Δ, % 01.01.24 ---- --------- ----------- ----- -------- ------- -------- ----- KSPI 57,500.00 46,000.02 +25.0 +26.1 1,057.3 850.6 +24.3 KCEL 3,166.00 2,884.00 +9.8 +61.9 625.7 615.9 +1.6 HSBK 212.94 198.01 +7.5 +30.2 2,162.8 2,712.1 -20.3 CCBN 1,506.97 1,469.03 +2.6 +54.2 1,923.1 1,998.0 -3.8 KMGZ 12,105.00 11,950.00 +1.3 +4.9 605.1 2,712.1 -77.7 KZTO 830.00 830.00 – -4.0 349.8 469.4 -25.5 KEGC 1,485.00 1,490.00 -0.3 +0.2 664.5 1,612.1 -58.8 KZTK 35,500.00 35,712.00 -0.6 +2.9 143.6 661.2 -78.3 KZAP 18,301.11 18,660.00 -1.9 -0.9 737.5 918.4 -19.7 AIRA 1,062.00 1,100.01 -3.5 - 3,057.7 - - ---------------------------------------------------------------- The greatest growth in March was shown by common shares of Kaspi.kz JSC, which increased in price by 25.0 %, reaching KZT57,500.00 per common share. Kaspi.kz JSC raised US$1.0 bn on Nasdaq by placing 11.3 mln American Depositary Receipts (ADRs) at a price of US$92 per ADR. According to Kaspi.kz's unaudited annual reports, the company's revenue increased by 51 %, net profit – by 44 %, assets – by 33.2 %, and liabilities – by 33 %. At the same time, the company's Board of Directors recommended that shareholders pay dividends in the amount of 850 tenge per share. The shareholders meeting is scheduled for April 8, 2024. Shares of Kcell JSC for March increased in price by 9.8 %. The representative of the telecommunications sector reported financial results for 2023, according to which the company's total revenue for 2023 amounted to 227.5 bn tenge, an increase of 2.8 % compared to 2022. Service revenue increased by 9.6 % to 190.3 bn tenge. At the same time, net profit decreased by 7.5 bn tenge and amounted to 33 bn tenge. The decrease in net profit was due to increased capital costs for the development and modernization of its network, as well as investments in the deployment of fifth generation communication technology. Closing the top three are common shares of Halyk Bank of Kazakhstan JSC with an increase of 7.5 %. According to the consolidated financial results of Halyk Bank of Kazakhstan JSC for 2023, net profit increased by 21.8 % to 693.4 bn tenge. Interest income for 2023 increased by 33.8 %, interest expenses increased by 48.6 % compared to 2022. As a result, net interest income increased by 21.1 %. On March 19, 2024, S&P Global Ratings affirmed the bank's ratings at "BB+/B", revising the outlook from "Stable" to "Positive". On March 20, 2024, the international rating agency Fitch Ratings affirmed the long-term issuer default rating at "BBB-" with a "Stable" outlook. Common shares of Bank CenterCredit JSC increased in price by 2.6 % over the month. On March 19, 2024, the international rating agency S&P Global Ratings affirmed the Bank's long-term and short-term credit ratings at "BB-/B", revising the Bank's ratings outlook from "Stable" to "Positive". Shares of a representative of the oil and gas sector, common shares of National Company "KazMunayGas" JSC showed an increase of 1.3 %. NC KazMunayGas JSC announced production results for 2023, according to which proven and probable hydrocarbon reserves increased by 3.7 % and amounted to 733 mln tons, the volume of oil and gas condensate production increased by 6.9 % to 23,532 thousand tons, and the volume of oil transportation increased by 7.6 % to 80,359 thousand tons. According to the financial results of NC KazMunayGas JSC, the company's revenue for 2023 decreased by 4.3 % and amounted to 8,320 bn tenge. The company's net profit, taking into account the share of profits in jointly controlled enterprises and associated companies, decreased by 29.3 % and amounted to 924 bn tenge. At the same time, net profit, adjusted for the share of profit in jointly controlled enterprises and associated companies, increased by 29.8 % and amounted to 1,010 bn tenge. On February 9, 2024, the international rating agency Moody's affirmed the credit rating. The company's rating is "Baa2", the outlook is "positive". Based on results of March, the price of KazTransOil share remained unchanged. According to the company's financial results for 2023, consolidated revenue increased by 13.6 % to 290.4 bn tenge, and consolidated net profit increased by 65.9 % to 32.8 bn tenge. At the same time, revenue separately for KazTransOil JSC for 2023 increased by 13.6 % and amounted to 241 bn tenge, and net profit separately for KazTransOil JSC at the end of 2023 increased by 115.6 % and amounted to 18 bn tenge. Common shares of KEGOC JSC showed a slight drop in price, decreasing in price by 0.3 %. Based on the results of activities of KEGOC JSC in 2023, the company's net profit amounted to 42.7 bn tenge, an increase of 60 %, or 15.9 bn tenge, compared to the 2022 figure. The company's revenue increased by 16 % to 252 bn tenge due to an increase in volumes and tariffs for regulated services. In addition, according to a message from KEGOC JSC, the issue of increasing the payment of dividends for the second half of 2023, which will be carried out in the second quarter of 2024, is being considered. On February 1, 2024, the international rating agency Fitch Ratings upgraded the company's long-term ratings from "BBB-" to "BBB" with a "Stable" outlook. The international rating agency Moody's Investors Service affirmed the rating of KEGOC JSC at "Baa2" with a "positive" outlook. Also, the international rating agency Standard & Poor's affirmed the company's rating at "BB+", the outlook is "Stable". Shares of Kazakhtelecom JSC decreased in price by 0.6 % to 35,500.00 tenge per share. On April 30, the annual general meeting of shareholders will be held, the agenda of which will approve the annual financial statements, the procedure for distributing the company's net profit for 2023 and the amount of dividends per common share. Common shares of NAC Kazatomprom JSC lost 1.9 % in price. The international rating agency Fitch Ratings upgraded the rating of NAC Kazatomprom JSC from "BBB-" to "BBB" with a "stable" outlook. According to production results of the company for 2023, sales volume for the Group increased by 94 %, and sales volume excluding consolidated subsidiaries and affiliates increased by 185 %. According to the company's financial results for 2023, the Group's consolidated revenue increased by 43 % to 1,434.6 bn tenge, and net profit increased by 23 % to 580.3 bn tenge. This growth is associated with an increase in the average selling price and an increase in sales volume. Common shares of Air Astana JSC decreased in price by 3.5 %. The company's 2023 results show revenue increased 13.8 % and 15.6 % to $1.2 bn. Profit after tax rose 21.5 % to $68.7 mln. KASE equity market Based on results of March 2024, the equity market capitalization amounted to 30.8 trillion tenge (68.8 bn USD), which is by 2.6 trillion tenge, or 9.0 %, higher than the previous month. ----------------------------------------------------------------- March 29 February 29 Change Change, % ----------------------- --------- ----------- --------- --------- Capitalization, bn KZT 30,826.57 28,274.57 +2,552.00 +9.0 Capitalization, mln USD 68,786.28 62,650.00 +6,136.28 +9.8 ----------------------------------------------------------------- Changes in prices of shares included in the representative list for calculating stock market capitalization, as of March 29, 2024: --------------------------------------------------------------------- Issuer Price change / Change, % (date of last trade) ------------------------------------ --------------------- ---------- Ust-Kamenogorsk 21,000.00 20.00 +104,900.0 Titanium-Magnesium Plant JSC (UTMKp) (26.03.24) (20.09.17) ForteBank JSC 6.31 4.05 +55.8 (ASBN) (29.03.24) (29.02.24) Kaspi.kz JSC 57,500.00 46,000.02 +25.0 (KSPI) (29.03.24) (29.02.24) Bank CenterCredit JSC 1,524.73 1,229.98 +24.0 (CCBNp) (29.03.24) (29.02.24) Rakhat JSC 16,890.00 14,710.00 +14.8 (RAHT) (29.03.24) (29.02.24) BAST JSC 8,608.98 7,801.11 +10.4 (BAST) (29.03.24) (29.02.24) Kcell JSC 3,166.00 2,884.00 +9.8 (KCEL) (29.03.24) (29.02.24) Halyk Bank of Kazakhstan JSC (HSBK) 212.94 198.01 +7.5 (29.03.24) (29.02.24) --------------------------------------------------------------------- * The table shows changes in prices on shares exceeding +/- 5 %. [2024-04-19]