JULY 27, 2017: NAIROBI: HIGH INTEREST, WEAK RECOVERY

Today, Thursday JULY 27, 2017, investor interest was high at Nairobi securities exchange but trading activity recovery from yesterday's relative low was not too strong.

In view of high interest, the 23.4% increase in traded volume to 33.17m shares accompanied by 139.2% rise in number of deals struck to 1516 from 632 yesterday. Yet traded value increased by only 16.2% to Kes 899.8m.

The banking sector recorded the highest contribution to trades value and volume as all the 11 quoted equities witnessing activity with four with above 1m shares each. It accounted for Kes 409m or 45.52% of total traded value.

KCB group paced the sector with deals for 5.71m shares at between 39.75 and 40.50 per share worth 204m Kes.

Barclay's bank had deals for 3.27m units but Eqiity group's deals for 2.245m units worth Kes 92.6m contributed more to traded value.

 Much the same  way, Cooperative bank recorded deals for 1.18m shares but Diamond Trust Bank's recorded deals for just 226,000 units worth Kes 40.9m contributed more.

Safaricom, however, led traded volume with deals for 6.77m as it hit a high of Kes24.75 before dropping to 23.75 per share. The deals were worth Kes 161m or 17.7% of traded value

Both Ken Gen and Kenya Power in the energy and petroleum sector were active too closing with deals for above 1m units each but the sector ended with only Kes 82m or 9.13% .

Ken Gen witnessed deals for 4.236m shares at between Kes 8 and 8.15 per share and Kenya power closed with deals for 4.027m units worth Kes 34m as it rose by 5 cents to Kes 8.45 per share.

In the manufacturing and allied sector, two high priced equities East African Breweries and British American Tobacco, recorded deals for less but ended up accounting for 14.51% of traded value.

EAB witnessed deals for 258,600 units at between Kes 256 and 265 per share for Kes 68m while BAT trading at between Kes 800 and 804 per share recorded deals for 76,900 units worth Kes 61.5m.

Another high priced equity, Bamburi cement in the construction and allied sector witnessed deals for 586,400 units as it gained Kes 1 to Kes 190 per share and their worth came to  Kes 73.5m or 8.22% of traded value.

Finally, Kenya Re closed with deals for 1.024m units at between Kes 20.50 and 22 per share worth Kes 23m.

There was a mild recovery at the bond market with traded value closing at Kes 1bn compared to Kes 605m yesterday.

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