SEPT 15, 2017: BOND RALLY AT NAIROBI SECURITIES EXCHANGE

After weeks on the low side, the bond market at Nairobi stock market today, September 15, 2017 bounced back fully with deals for Kes 4.463bn traded value compared to N2.575bn yesterday.

Indeed, the Friday strong bounce back was a fitting end to a week dominated by very gradual increased in traded value daily.

The gradual limb stretching had started on the 11th when traded value rose to Kes 1.7bn from Kes 1.2bn. It topped that on the 12th with deals worth Kes 2.4bn before closing 13th with Kes 2.445bn.

Yesterday, even as the equity segment witnessed decline in trade, the value traded at the bond market increased again Kes 2.5bn before almost doubling this today. 

Hence, traded value for the whole week came to Kes 13.8bn compared to Kes 5.4bn the previous week.

The Friday leap was driven by deals for Kes 1bn and 700m recorded in 2 year government bond issued in December 2016 at 12.5% and 5 year government bond issued 2015 at 13.92%.

At 164.49, the All shares index increased marginally on yesterday's 164.46 but was lower than 165.65 by last Friday.

This was because today's gains and losses were limited in Kes spread and almost even as 19 equities recorded gains while 13 went down.

Leasing price gains were recorded by I&M Holdings up Kes 3 per share as it opened and closed at Kes 129 and Nation Media also up Kes 3 per share opening and closing at Kes 115 from yesterday's Kes 112 per share.

The losers were led by Jubilee Holdings, down Kes 4 per share as it opened at Kes 476, hit a low and close of Kes 475 per share and East African Portland down Kes 1.25 per share.

Through the week though and in % terms the leading price losers were ARM Cement, down 16.72%; Nairobi Ventures ltd with 15.25% drop, WPP Scan down 13.09% and Kapchorua Tea with 10 % decline.

The top gainers for the week were Sameer Africa up 12%; Eveready with 6.38%; TPS Eastern Africa 5.66% and Crown Paints up 5.26%.

The traded value for the week was Kes 4.56bn compared to Kes 5.7bn previously; and trades volume was 136.74m as against 188m previously.

Top volume was by Safaricom Ltd with 61.1m shares worth Kes 1.5 bn changing hands within the week with only 8.7m involved today and KCB group in which deals for 24m worth Kes 1bn were sealed mostly today when leading 18.9m was offloaded.


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