JULY 26, 2017: NAIROBI STOCK MARKET LOW AGAIN

For the second time this week, trading activities at the Nairobi Securities exchange hit low today Wednesday, July 26 2017 as traded volume dropped by 37.4% to 26.899m; traded value came to Kes 774.6m, down 38.09% and number of deals declined by 53.9% to 632. However, all shares index hit new high of 158.35, up 0.8%.

It was a day, the five top traded volume accounted for 90.5% of total and top 3 by traded value accounted for 78.36%. A day too, the number of equities with deals was low as only 38 out of the 61 quoted companies recorded deals.

Insurance that used to witness deals in all six equities, recorded 4 with deals; Commercial sector had 7 out of 13 with deals; manufacturing and allied had 5 out of 9 and Energy and petroleum sector and Construction and allied sector had 3 with deals each out of 7 and 6 respectively.

Banking was a bit more active in terms of number of quoted companies with deals as only out of the 11 had no deal.

The top five by volume was led by Safaricom with deals for 11.13m shares or 41.3% of total volume. The shares were traded as Safaricom hit a new high of Kes 24.25 then dropped to close at Kes 23.75 per share. At Kes 265m worth, they also led the top three in terms of traded value although contributing a lower % (34.29%).

Britam Holdings in the insurance sector, had deals for 8.05m units  or 30 % of traded volume at between 13.95 and 15 Kes worth Kes 120m which made it the 3rd of the top three by traded value. It also accounted for a significant portion of the Kes 146m or 18.9% contributed by the sector to traded value.

East African Breweries had the 2nd highest by traded value as it recorded deals for 837,000 units at between Kes 255 and 265 per share worth Kes 222m or 28.78% of total traded value.

The 3rd highest by volume was recorded in Kenya Power and Lighting  as deals were witnessed for 2.57m shares or 9.58% at between Kes 8.30 and 8.50 per share worth Kes 21m followed by KCB group in the banking sector, with deals for 1.379m or 5.13% at between 39.50 and 40 Kes per share worth sector pacing Kes 54.8m.

The banking sector ended up accounting for Kes 112m traded value or 14.51%  with Diamond Trust bank chipping in deals for 104,700 units worth Kes 18.9m while closing firm at Kes 180 per share and Equity Group recording deals for 441,000 units while closing up 50 Kenyan cents at Kes41.25 per share worth Kes 18m.

The 5th by traded volume was Kenya Re in the insurance sector up 4.87% with deals for  1.14m shares worth kes 24.2m.

The bond market continued in doldrums too as 33 deals for only Kes 605m were struck. Of this though, sell or buy back recorded Kes 100m worth thus coming alive for the first time in weeks.

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