AUGUST 21, 2017: DANCE OF OPPOSITES AT NAIROBI.

In recent days at Nairobi securities exchange, trading activity had been recovering while All shares index dropped but today, August 21, 2017, the dance beats changed sort of: ASI closed up and trading indicators dived.

Traded volume declined by 71% to second lowest, 8.78m shares; traded value dropped by 69.1% to Kes 215.79m and number of deals went down 26.3% to 1172 but ASI, after recent daily drops, rose by 1.41 points or 0.85% to 166.61.

On August 9, that is just after Kenya's nationwide elections, traded volume had dropped by 24.6% to 7.99m which remains the lowest in recent times. This was recorded through 638 deals valued at Kes166.6m, down 45%.

Earlier, in the previous trading day, August 7, traded volume had dived by 64.7% to 10.35m shares in 1097 deals.

Today's volume though low, was far more shared across the market sectors and so, only two equities recorded deals for above 1m units each: Safaricom and CIC Insurance.

Safaricom, down 50 Kcents at Kes 24.75 still ended up pacing the market with deals for 1.49m shares or 17% of market volume worth Kes 36.9m or 17.1% of traded value for the day.

CIC Insurance, led all 6 quoted companies in its sector as they all recorded deals, with deals for 1.25m shares sold at between Kes 6.10 and 6.40 per share worth Kes 7.8m.

Amongst the banks, none had deals for above 1m units but showcasing deals in all the 11 companies, the sector accounted for dominant 30.95% of traded value or Kes 66.7m.

Equity group led the pack with deals for 812,200 units at between Kes 43 and 43.25 per share worth Kes 34.9m. It was trailed by NIC Bank, down 36 Kcents to Kes 36 per share, with deals for 440,400 shares worth Kes15.9m and KCB group with Kes 4.8m worth of deals for 109,000 units.

Centum investment too, though not in the above 1m units volume class, recorded deals for 806,100 units at between Kes 42 and 43 per share worth Kes34.6m to drive the investment sector to Kes 35m traded value or 16.34% of total.

Much the same way, Nation Media, trading at between Kes 112 and 115 per share recorded deals for 205,300 units worth Kes 23m which was the lion share of the Kes 24.7m traded value in the commercial sector or 11.48% of total.

The bond market held on today but by easing a little to Kes 2.42bn traded value in 69 deals compared to Friday's 105 deals for Kes 2.99bn worth.

Unlike Friday, though, all government 27 treasury bonds with below Kes 50m nominal value witnessed deals; and sell or back also came alive with Kes 500m worth of transactions.


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