AUGUST 22, 2017: EASY RECOVERY AT NAIROBI SECURITIES EXCHANGE

Trading today, August 22, 2107, recovered rather easily from yesterday's second low at Nairobi securities exchange on the bank of energy and petroleum  and banking sectors but, again, All shares index went the opposite direction.

The ASI dropped by 0.64 points or 0.38% to 165.67 after raising hopes yesterday of a new round upwards look but traded volume grew more than 5 times to 46.12m shares from yesterday's lowly 8.78m; traded value increased by  more than 4 times to Kes 993m from yesterday's Kes 215.78m and number of deals increased by 34.7 % to 1579, still below recently newfound above 2000.

The quantum leap in volume was as two equities in the Energy and Petroleum sector, Ken Gen and Kenya power recorded together witnessed deals for 26m shares or about 56.5% of the days volume.

Ken Gen, trading at between Kes 9.20 and 9.40 per share recorded deals for 15.345m shares worth Kes 141m and Kenya power, up 2.81% to Kes 10.95, witnessed deals for 10.69m units worth Kes 177m. Thus, both accounted for almost all of the Kes 259m traded value in the sector within the day.

However, because comparatively, their prices were more on the low side of the market, the sector's contribution to traded value came to only 26.1% compared to the above 56.5% they accounted for in volume terms.

The banks paced traded value being more on the average side of the market contributing, as a sector, 45.83% of traded value or Kes 435m mainly on the back of deals for 5.507m units recorded in Equity Group at between Kes 42.50 and 43.25 per share worth Kes 236m and deals in KCB group, up 50 Kcents at Kes 44.75 per share, for 3.855m shares worth Kes 173m.

Barclays bank too also recorded deals for 2.179m shares but they were worth only Kes 22m.

The manufacturing sector recorded Kes 168m traded value or 16.98% of market total mainly as deals were witnessed in East African Breweries for 605,700 shares at between Kes 262 and 268 per share worth Kes161m.

Two more equities recorded deals for above 1m units respectively: Safari com and Kenya Airways. In Safaricom only 2.932m shares changed hands at between Kes 24,75 and 25 per share worth Kes 72.9m or only 7.34% of market traded value while Kenya Airways, pushing commercial sector's traded value to Kes7.5m or 0.76% recorded deals for 1.315m shares worth Kes 5.8m closing down though by 7.36%.

Bond market trended down once more slightly with Kes1.674m traded value in 48 deals compared to Kes2.425m in 89 deals yesterday. patronage of government treasury bonds was low but two corporate bonds: Britam Holdings and UAP Holdings medium term notes, recorded some deals.

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