AUGUST 29, 2017: EASY RECOVERY AT NAIROBI STOCK MARKET

It was rather easy for Nairobi securities exchange to recover from yesterday's near low today August 29, 2017 volume and value more than doubled but number of deals rose by only 18.3% to 1664.

Traded volume rose by 153.7% to 33.89m while traded value increased by 126.3% to Kes 857.5m but All shares index dropped by 0.04% to 172.75.after hitting a new high yesterday.

Safaricom paced both volume and value closing the with deals for 13.5,m shares, slightly higher than total market traded value yesterday.

The shares were traded at between Kes 26.25 and 27.25 per share as Safaricom hit all time high and the value was Kes 486m. 

Thus, it accounted for 39.8% of traded volume and 56.7% of traded value.

All the 11 quoted banks were active and the sector ended with Kes 208m traded value or 24.36%.

Of this amount, KCB,  trading at between Kes 45.25 and 46 per share, recorded deals for 1.625m shares worth Kes 73.9m led the sector in value terms followed by Equity group, up 1.12%  witnessed deals for 1m units worth Kes44m.

However, Cooperative bank led sector's volume contribution with deals for 2.33m shares worth Kes 39.7m followed by Barclay's bank with deals for 1.97m units.

A major contributor to traded value was East African Breweries which has been recording deals for fairly large parcels daily in recent times. It recorded deals for 407,400 shares at between Kes 262 and 265 per share worth Kes 107m.

This was the lion share of its sectors Kes. 127m traded value or 10.28% of market total

The bond market also recovered easily as traded value came to Kes 1.99 bn compared to Kes 847m previously.

Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more