AUGUST 16, 2017: BOND COME BACK AT NAIROBI

The bond market at the Nairobi securities exchange today August 16, 2017 made a come back from doldrums with traded value rising by 126.4% to Kes 1.5bn.

However, Government fixed 10 year bond issued at 10.75% in 2008 and due by September next year alone accounted for Kes 1bn worth.

In all there were 29 deals compared to yesterday's 26 and corporate bond recorded Kes 4.2m worth of deals.

At the equities market, trading indicators continued upwards too but for the second day All shares index trended down by 1.92 points or 1.14% to 166.79.

The total volume for the day rose by 29.8% to 46.88m; traded value increased by 35.2% to Kes 1.138bn and, as if to confirm higher investors interest in the market, number of deals struck stayed above 2000 for the 3rd day running closing at 2375, up 1.04%.

Trading in the shares of Safaricom was back in form with deals for 14.32m units being recorded or 30.5% of volume, at between Kes 24.25 and 25 per  share worth Kes 305m or 30.75% of total traded value.

It thus paced on the individual level but the banking sector accounted for Kes 559m or 49.13% of traded value.

Leading the sector was KCB group with deals for 4.54m shares at between Kes 44.50 and 45.25 per share worth Kes 204m. It was followed in value terms by Equity group in which 3.467m units changed hands in deals worth Kes 152m as it gained 1.12% to Kes 43.75 per share.

Cooperative bank however ranked 2nd in the sector in volume with deals for 3.878m shares worth Kes 68m as it closed at Kes17.55 per share.

To drive volume back to form, a total of 10 equities recorded deals for above 1m units each. Aside from the market leaders, Ken Gen, Kenya Power Lighting and Kenol Kobil in the Energy and Petroleum sector; Kenya Airways (Commercial); CIC (Insurance); Home Afrika (Investment) and Mumias (Manufacturing) all were in this elite group.

KenGen had deals for 2nd rankef 6.08m shares at between Kes 9 and 9.60 per share worth Kes 56m while Kenya power, up 1.35% recorded deals for 3.07 shares worth Kes 33.5 to between both account for bulk of the Kes 108m or 9.51% of market total recorded by the Energy and Petroleum sector.

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