KASE Index shows a 1.5% increase

In January 2023, the KASE index grew by 1.5% and reached 3,299.91 points. In December 2022, this rate showed a 6.1% growth, according to the Kazakhstan Stock Exchange (KASE). Five stocks of the index reported positive results in January.

Stocks with gains

Kazatomprom’s stock showed the best result in January by finishing the month with a 10.4% growth (to $30.92). The year’s beginning was quite good for the nuclear fuel producer. For instance, last month Kazatomprom obtained an S&P Global Ratings ESG evaluation at 51/100. Also, Moody’s confirmed the company’s rating with a stable outlook.

In the fourth quarter of 2022, the company’s uranium output dropped by 3%, while sales of the company and its subsidiaries decreased by 1% to 16,358 tons.

Kazakhtelecom is another company that reported strong gains in January. Its stock rose by 2.9% to $63.49. In early January, the company announced dividend payouts for preferred stock at $0.65 per share ($142,455 in total). Kazakhtelecom has spent money on acquiring 5G licenses, which may affect its dividend payouts, a source familiar with the issue told Kursiv. On January 10, Kazakhtelecom announced that it no longer controls its former subsidiary Khan Tengri Holding B.V.

Kcell, a Kazakhstani mobile operator, reported that its stock value grew by 1.4% in January (to $3.8). The company didn’t announce any important news last month.

Fintech giant Kaspi reported a 1.09% growth of its stock in January (to $72.95). In the middle of last month, the company’s founders changed their shares. Now, Mikhail Lomtadze, co-founder and CEO of Kaspi, is the second largest stakeholder in the company after Baring Vostok Funds. His share increased from 23.42% to 24.55%.

Kazakhstan Electricity Grid Operating Company (KEGOC) stock has shown a tiny increase in stock value of 0.1% to $3.53. In the middle of January, the company announced a dividend payout of $0.14 per share ($36.9 million in total).

Stocks in decline

KazTranOil’s stock dropped by 3.3% to $1.54 in January. It was the biggest decline in the market. On January 13, the oil pipeline transport company said it will send 300,000 tons of Kazakhstani oil to Germany in the first quarter of this year.

One of the biggest commercial banks in Kazakhstan, Halyk Bank, reported a 2.8% decline in its stock (to $0.26). There were no important corporate reports from the company last month.

Another commercial bank, Bank CenterCredit, also didn’t announce anything important in January. Its stock declined by 0.8% to $1.38. Unlike its poor performance in January 2023, this stock demonstrated a sharp growth of 60.8% last year.

The KASE index generally declined by 11.5% to 3,251.64 points over the 12 months in 2022.