December 10, 2012 / 3:46 PM / in 5 years

UPDATE 1-Kenyan shares edge down as investors book gains

* Investors cash in on this year's market rally
    * Shilling could weaken gradually on rate cut bet

 (Adds markets close, shares)
    By Kevin Mwanza
    NAIROBI, Dec 10 (Reuters) - Kenyan shares fell on Monday as
retail investors took profits on this year's rally and fund
managers stayed out of the market, while the shilling held
steady against the dollar.
    The main share index fell 0.6 percent on Monday to
4,012.05 points as turnover more than halved with 158.5 million
shillings worth of shares traded
    The index has retreated 3.2 percent from the 2012 peak of
4,157.29 points hit on Nov. 27, but is still up 26 percent this
year.
    "A lot of fund mangers are closing their books for the year
and investors are selling after the rally we saw this year,"
said Moses Waireri, an analyst at Genghis Capital.
    Barclays Bank fell 1.1 percent to 14.10 shillings a
share, while Kenya Commercial Bank, the biggest bank by
assets, dipped 0.9 percent to 27.25 shillings  per share.
    "There was strong demand on banks after Q3 results, so now
they are coming back down to their fair value," said Ted
Macharia, an analyst at Afrika Investment Bank.
    In the foreign exchange market, the shilling was barely
moved against the dollar at 85.95/86.15 at the close of the
session, compared with Friday's close of 86.00/10.
    Traders said they expected the shilling to trade within a
tight band of 85.80-86.20 in the days ahead as activity slows
down ahead of the holidays.
    Although the shilling has fallen around 1 percent against
the dollar this year, it has been broadly stable, thanks to the
central bank's tight monetary policy stance.
     In the debt market, government and corporate bonds worth
901 million shillings were traded, down from 1.1 billion
shillings on Friday.
               ...........................Shilling spot rates
                  .....................Shilling forward rates
                           .......................Cross rates
         ..................................Local contributors
           .......................Central Bank of Kenya Index
          .....................Kenyan Bonds contributor pages
                          ...............Treasury bill yields
        ..................Central bank open market operations
        .........................Horizontal repo transactions
         ,       ................Daily interbank lending rate
              .............................Kenya Bond pricing
             ..................Real time Africa economic data
 <ECI & AFR> ...........................African economic news
          .................................NSE-20 Share Index
         .................................NSE All Share Index
             ...........................FT NSE Kenya 15 Index
             .......................... FT NSE Kenya 25 Index
  SPEED GUIDES:
                                    
            
 ($1 = 86.0500 Kenyan shillings)

 (Editing by Duncan Miriri, Ron Askew)

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