KASE Index reports a 27.9% increase this year

The KASE index has been growing for the past several months / Photo: Shutterstock and Wikimedia Commons

In 2023, the Kazakhstan Stock Exchange index managed to rebound from last year’s losses and has grown by 27.9%. Last year, the index declined by 11.5%, according to the exchange’s website.

How did the index constituents behave

As of December 28, 2023, the Bank CenterCredit (BCC) share price was $2.15 versus $1.41 as of the end of 2022. This means that the bank’s share price has grown by 52.65% over the past twelve months. In May 2023, BCC acquired the controlling stake in Sinoasia B&R, an insurance company, and said that it would expand its presence in the insurance market.

The share price of Halyk Bank grew by 27.46% from $0.28 per share last year to $0.36 now. In November, the bank sold its subsidiary in Kyrgyzstan to a consortium led by Aidan Karibzhanov, a prominent Kazakhstani businessman.

Kcell has come to the end of this year with a share price of $4.31, which is a 13.33% increase compared to $3.80 per share last year. During the trading session on December 27 on KASE, the mobile operator reported transactions of $8.8 million, a record-high number over the past two years.

The share price of KEGOC is currently about $3.25 versus $3.56 last year. In November 2023, the company raised $49.8 million on KASE and AIX by selling additional shares.

KazMunayGas (KMG) shares weren’t in the KASE index last year. They were added to the index in February 2023 and over the past ten months, the company’s share price has risen by 21.85% from $20.70 to $25.22. Also, this year, the National Bank started buying KMG shares from Samruk Kazyna with the help of money from the National Fund. As a result, the country’s Ministry of Finance has acquired shares worth $2.8 billion.

Kaspi.kz reported a 36.73% increase in its share price from $72.87 last year to $99.63 now. The fintech group is continuing to buy back its depository receipts traded on the London Stock Exchange. By now, the company bought back the security for $248 million. At the same time, it is planning to launch a new program for $100 million.

The share price of Kazatomprom has risen by 43.71% over the past twelve months from $28.26 to $40.61. The company managed to secure additional exports of uranium to China and get consent from Framatome, a French nuclear reactor business, to intensify bilateral cooperation. In 2025, Kazatomprom plans to fulfill 100% of its subsurface contracts compared to 90% in 2024.

Kazakhtelecom reported a 16.7% increase in its share price to $72.66 this year. In September 2023, Jusan Bank acquired 9% of the telecom operator during a trading session on KASE. At the time, this deal was comparable to the amount of transactions with the stock over the entire year of 2022.

KazTransOil reported a 15.53% increase in its share price to $1.86. Over the first 11 months of 2023, the company shipped 843,000 tons of Kazakhstani oil to Germany.