SEPT 6 2017: STILL POSITIVE AT NAIROBI SECURITIES EXCHANGE

For the second day after the panic post election cancellation, today Sept 6 2017 the Nairobi securities exchange sustained positive outlook although the All shares index rose only marginally by 0.37 points or 0.23% to 162.27.

There were 18 price gains and 14 drops with margin of gains being on the higher side. 

Top gain was in Jubilee Holdings which closed at Kes 479 per share, up Kes 19 on yesterday's close. It had in fact hit a day high of Kes 480 per share before easing down kes 1.

Indeed brokers seemed to be more positive about the insurance sector's prospects as 4 gains and one drop were recorded, with Jubilee Holdings pacing both market and sector gains 

Trailing Jubilee in terms of Kes gains was Kakuzi in the Agricultural sector. Kakuzi hit day high of Kes 325 and low of Kes 319 per share before closing at Kes 324, up Kes 9 on Kes 315 by Tuesday close 

Other major gainers were East African Breweries (EAB) up Kes 3 per share; and Stanbic Holdings with Kes 2 gain at Kes 80 per share.

EAB witnessed deals for 206,400 units worth Kes 51.6m but this time around this only followed British American Tobacco lead traded value in the manufacturing and allied sector. BAT, firm, recorded deals for 100,000 shares worth Kes 80.7m 

Thus the sector accounted for Kes 133m or 7.97% of market total.

Among the price losers, top in Kes terms was I& M Holdings, down Kes 4 to Kes 120 per share. It had closed yesterday at Kes 124 and slipped to Kes 120 without recovering.

Nation Media followed with Kes 2.00 drop to Kes 111 which like for I&M, ended as day low and close as against Kes 113 per share previously.

Trading picked up very well with traded volume closing at 55.7m compared to 16.9m previously and traded value closing at Kes 1.675bn, way ahead of Tuesday's Kes 703.77m.

Most of these were as trading in Safaricom recovered to 36.15m shares at between Kes 24.50 and 25.50 per share worth Kes 902m.

Thus Safaricom accounted for 64.9% of volume and 53.89% of traded value 

More active banking sector too also helped with 32.12% or Kes 538m traded value being recorded.

Equity Group paced the sector with deals for 6.066m shares at between Kes 38.75 and 39.50 per share worth Kes 237m followed by Diamond Trust Bank with deals for 893,200 units worth Kes 158m and Cooperative Bank as 6.054units changed hands for Kes 98.7m.

Ken Kobil was another major volume contributor with 1.9m shares worth Kes30m changing hands at between Kes 15.20 and 16.10 per share 

Trading at the bond market recovered  to Kes 1.5bn traded value as against Kes 519.8m on Tuesday but only one of nominal value below 50m Kes witnessed deals 

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