AUGUST 28, 2017: NAIROBI: NEAR BOTTOM, ASI NEW HIGH

Today, August 28, 2017, the Nairobi securities exchange started week 35 at near bottom although All shares index rose by 0.67% or 1.16 points to 173.47.

Traded volume tumbled by 49.1% to 4.6m shares: traded value followed almost in tow with 46.1% drop to Kes 378.8m and number of deals decreased by 24.2% to 1406.

The bond market even declined by a wider margin, by 55.2% to Kes 847.7m traded value 26 deals compared to Kes 1.89bn in 19 deals last Friday.

There were more deals because all the government stocks in the under Kes 50m nominal value category recorded deals but most of it below Kes 100m each hence in spite of the number, traded recorded in the category was less than Kes 100m

However, the corporate bond category recorded deals worth Kes 100m and above Kes 50m nominal value bond accounted for the balance in scanty deals.

Witnessing deals for as relatively low 4.6m shares, Safaricom still led volume accounting for 34.6% but in value terms, they were worth Kes 123m or 32.5% with the banking sector pacing with Kes 142m or 37.6%. They were sealed at between Kes 26.50 and 27 per share.

But this lead was by banking as a sector of the Nairobi stock market as all 11 quoted banks witnessed deals led by KCB group with deals for 1.173m shares traded at between Kes 45.25 and 46 per share worth Kes 53m.

NIC bank trailed it with deals for 1.02m shares  worth Kes 37.5m and Equity group, traded at Kes 44.25, down 1.72% had deals for 636,000 units worth Kes 28m.

The commercial and services sector contributed Kes 35.8m traded value or 9.46% mainly on the back of Nation Media's Kes 28.9m worth of deals for 251,800 units at between Kes 115 and 116 per share. 

Bamburi cement, in the construction and allied sector also witnessed dominant deals for 156,800 units at between Kes 189 and 191 per share to shore up the sectors traded value to Kes 30m or 8.08%.

CIC Insurance was the only other equity with deals for above 1m units recording deals for 1.76m shares at between Kes 6.10 and 6.25 per share worth 10.8m Kes out of the Kes 20.8 of 5.51% chipped in by the insurance sector.

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