SEPT 20, 2017: ASI UP, TRADE DOWN AT NAIROBI SE

As the Supreme Court of Kenya finally gave its reasons for annulling the recent presidential election results, the Nairobi securities exchange today September 20 2017 reflected guided optimism as all shares index closed up by 0.51% to 164.78.

However, trading was on the low side and associated indicators closed down after yesterday's marked recovery. Trades volume dropped by 45.7% to 12.1m shares: traded value closed at Kes 328.2m, down 43.7% on yesterday's Kes 583.38m and number of deals decreased by 29.7% to 900.

The ASI growth occurred as Safaricom gained Kes 0.25 per share to close at Kes 25.25 alongside 8 other gainers led in Kshillings terms by East African Portland which topped up with Kes 2.50 to end the day at Kes 29.25 Per share.

A total of 11 price drops occurred led by Kakuzi ltd of the agricultural sector, as it closed the day at Kes 320 per share, down Kes 10 on Kes 330 by yesterday.

Two other equities, Standard Chartered bank and East African Breweries, trailed Kakuzi as they lost Kes 1 each.

As for trading, Safaricom accounted for 56% of traded value or Kes 184m in. deals for 7.3m shares at between  25 and 25.59 per share. Indeed, no other equity had deals for above 1m units with the closest being 817,200 shares in Centum Investment and 702100 units sold in KCB group.

The banking sector accounted for 21.16% of traded value or Kes 69m while construction and allied sector chipped in Kes 15m or 4.8% on the strength of Bamburi's deals for 74,400 units at between Kes 180 and 181 per share worth Kes 13.3m.

The bond market picked up some steam as it recorded 33 deals worth Kes 1.625bn compared to Kes 977m in 43 deals yesterday.




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