SEPT 19, 2017: NAIROBI SECURITIES EXCHANGE RECOVERS

The political situation may be uncertain right now with the opposition threatening to boycott the Supreme Court ordered rerun of the presidential elections, the fear that this telling very much on the Nairobi stock market may not be true.

This is because after starting the week on the downside yesterday, the market recovered strongly today to close with growth in all indicators.

The All shares index rose by 1.91 points or 1.18% to 163.94; traded volume increased by 166.7% to 22.329m shares and traded value ended at Kes 583.388m, up 188.9% 

The ASI increase was driven more by relative Kshillings gains by three high priced equities: East African Breweries, Diamond Trust Bank and Jubilee Holdings in addition to highly capitalised Safaricom.

The lead Kshillings gain was by AEB as it closed the day at Kes 253 per share, up Kes 5.00. It also witnessed deals for 14,700 units but certainly this was not among the day's top trade.

Both DTB and Jubilee closed the day up by Kes 1.00 per share each but again none of them had volume deals in the top ten range.

Safaricom closed Kes 0.75 higher at Kes 25 or 3.09% which had a lot to do with ASI increase too because it is the markets leading capitalisation. It also recorded day high traded volume of 12.37m shares or 55.4% of the total.

Among the 17 price drops, Bamburi cement in the construction and allied sector, led with Kes 8.00 drop to Kes 180 per share after closing yesterday at Kes 188 per share.

It was followed by Williamson Tea and BOC Kenya with decline by Kes 5.00 per share each.

Out of the top 10 by volume only four actually had deals for above 1m units. Safaricom's lead was followed by KCB group with deals for 2.2m shares; Ken Kobil in the energy and petroleum sector with deals for 1.31m shares and also in the same sector, Ken Gen in which 1.256m shares changed hands.

Others within the top 10 by volume were Kenya Power and Lighting with deals for 798,000 shares; Centum Investment in the Investment sector (720,000 units) and Equity group in the banking sector like KCB group, with deals for 694,200 shares 

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