SEPT 7, 2017: ASI STILL RISING AT NAIROBI SECURITIES EXCHANGE

Relative bullish mood continued today Thursday, September 7, at the Nairobi securities exchange despite grey areas still visible in the political scene of Kenya

It closed the day at 164.0, up 1.73 points or 1.07%  as 17 price gains  overwhelmed 11 price drops both in number and spread.

Top price gain was by I&M Holdings up Kes 3 per share  as it opened and closed at Kes 123 compared to Kes 120 yesterday.

I &M actually also led banking sector to close the most active in terms of Kes gains  In all, 8 out of the 11 quoted equities in this sector closed up and indeed the first 4 Kes gains were banks.

Trailing I&M was NIC Bank up Kes 2 per share. It hit day high of Kes 41 but closed lower at Kes 40.75 per share. This however was still an increase on yesterday's Kes 38.75 close.

The two other price gains above Kes 1 per share were recorded by HF Group, also in banking, up Kes 1.25 to Kes 11.65 per share and Standard Chartered bank which at Kes 234 per share was up by Kes 1 after hitting day high of Kes 238 per share.

The drops were led by Unga group dowb Kes 3.25 to Kes 30.25 per share its day low and Jubilee Holdings in the insurance sector after yesterday's leading Kes 19 per share  It lost Kes 3 per share to close at Kes 476 per share after hitting a day low of Kes 475 per share and a high of Kes 480.

Both traded volume and traded value closed down with volume coming to 36.1m, down 35.1% and traded value at Kes 1.198bn was 28.4% lower than yesterday's Kes 1.675bn 

Just like in price gains, the banks were more active as from deals witnessed in all 11 quoted therein, Kes 628m traded value or 52.39% of market total was recorded.

Equity group paced like it did yesterday, this time recording deals for 5.25m shares at between Kes 39 and 39.75 per share worth Kes 206m, followed by Diamond Trust bank with deals worth Kes 105m involving 593,000 units and Cooperative bank with deals for 5.858m shares worth Kes 95.7m.

Two other banks still contributed substantial volume but not much traded value in view of their lower price per share or lower volume.

KCB witnessed deals for 1.98m shares while closing up by Kes 0.25 per share and Barclay's bank firm on yesterday's price recorded deals for 1.97m units.

Three other equities recorded deals for above 1m shares each. Ken Kobil in the energy and petroleum sector recorded deals for 6.953m shares at between Kes 16 and 16.50 worth Kes 114m while closing up Kes 0.60 at Kes 16.45 per share.

In the investment sector, Centum investment witnessed deals for 1.59m units at between Kes 41.25 and 42.75 per share worth Kes 67m.

And of course, Safaricom had deals sealed for 6.674m shares ( far lower that yesterday's) at between Kes 25 and 26 per share.

Finally, bond market traded value eased to Kes 1.3bn from yesterday's Kes 1.5bn but trading in government fixed income bond below 50 Kes nominal value increased compared to yesterday.

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