SEPT 27, 2017: BANKS BEARISH PRESSURE AT NAIROBI SE

For two days Henates was unable to post market analysis due to health challenges but today September 27, 2017 bearish pressure on banks helped the All shares Index to drop by 1.01 points or 0.61% to 165.01 after Tuesday to 166.02.

This was mainly as six banks out of 11 recorded price drops with some helping hand from Safaricom, down Kes 0.25 per share .

The six banks were paced by Standard Chartered Bank with Kes 12.00 at Kes 226 per share after hitting day high of Kes 235 and low of Kes 220 per share.

Other banks followed its lead from a distance with Equity Holdings, KCB group and NIC bank losing Kes 0.25 per share each, National bank down Kes 0.20 per share and Barclay's bank closing kes 0.05 per share down.

However, SCB's leading price drop was trailed by Sanlam ltd which closed down Kes 1.50 per share. 

On the other hand, there were 13 gainers led by Bamburi cement and Williamson Tea with Kes 2.00 per share gain each followed by East African Breweries and Nation Media up by Kes 1.00 per share.

Of the other gainers, Centum investment stood out not because it recorded Kes 0.25 gain but it recorded deals for 405,100 while searching for closing price.

Centum had hit day high of 42.25 and low of Kes 41.50 before closing at Kes 41.75 per share. In effect, its shares were sold at between Kes 41.50 and 42.25 per share.

Traded volume dropped by 25% to 27.19m shares  while traded value decreased by 44% to Kes 510.12m.

The pace setter in terms of volume was ARM Cement, up Kes 0.45 per share, with deals for 12.4m shares or about 45% of the day's market volume. It hit a high of Kes 12.35 and low of Kes 11.10 before closing at Kes 11.60 per share.

Safaricom led trailing volume with deals for 6.92m shares at between Kes 25.75 and Kes 26; followed by Kenya Re with deals for 1.64m units and Ken Kobil in which 1.44m shares changed hands.

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