AUGUST 23, 2017: BOND STILL LOW AT NAIROBI SECURITIES EXCHANGE.

At the Nairobi securities exchange today August 23, 2017, the bond market continued to gradually dry up as traded value came to Kes 1.0bn in 36 deals compared to Kes 1.67bn yesterday.

The gradual slide began on the 21st after it had closed week 33 with hopeful recovery to Kes 2.994bn traded value. It eased to Kes 2.42bn dropping further yesterday.

Unlike yesterday, no deals were recorded in corporate bonds and deals in government fixed treasury bonds above 50m Kes were scanty

The real estate fund segment of the market witnessed rare improved activity though as 18 deals for Kes 6.34m worth were traded compared to 2 deals for just Kes 62,200 yesterday or just no deal most days hitherto.

At the equity market, most of the momentum gained by trading indicators yesterday gave way to reverses and, sure, the All shares index also reversed in step to close up 0.58% at 167.53.

Traded volume crashed by 58.8% to 19m shares; traded value declined almost in step by 45.1% to Kes 545.6m and number of deals eased to 1247, down 21 %.

In a way, Safaricom was one of the few with higher volume and value when compared to yesterday. As against 2.932m previously, it witnessed deals for 10.4m units at between Kes 24.75 and 25.50 worth Kes 261m to pace both volume and value.

It accounted for 54.7% of traded value but because of improved trade too in high priced East African Breweries and some others, its share of traded value stood at only 47.9%.

Trailing that was the Kes 172m recorded in the Manufacturing and allied sector or 31.32% on the back of deals for slightly higher 637,400 units in East African Breweries at between Kes 265 and 268 per share worth Kes 170m.

Aside from Safaricom, the only other equity with deals for above 1m units was Kenya Power and Lighting in which 2.64m shares were traded at between Kes 11 and 11.90 worth Kes 29m.

With this in the bag and some support from deals in Ken Gen and Kenol Kobil, and 2 others, the sector closed with Kes 34m traded value or 6.21%.

Ahead of it though was the Kes 50.8m chipped in by the banking sector of 9.21% of market total.

Equity group led the sector with deals for 410,000 units at between Kes 43 and 43.5 per share worth Kes 17.6m followed by I&M Holdings with deals for 110,000 shares worth Kes 13.7m and KCB group, up 25 kcents at Kes 45 per share with deals for 184,100 units worth Kes 8m.

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