TOUGH WEEK BUT NAIROBI SECURITIES EXCHANGE STAYED POSITIVE

The week end yesterday , Friday September 22 2017, was a very tough one for Nairobi securities exchange but the held on and closed positive.

All round, trading indicators slumped by more than 50% each when compared to previous week but the All share index still managed to close at 165.91, up 1.42 points or 0.86%. It could have been worse given still hanging questions over political leadership.

Traded volume in the equities segment collapsed by 50.7% to 67m shares compared to 136m units previously; traded value dived by 60% to Kes 1.88bn as against Kes 4.5bn and at the bond market, traded value dropped by 50.8% to Kes 6.5bn compared to Kes 13.2bn in the previous week.

Actually, staying bullish in spite of macro pressures from the economy and politics held sway more in the mid ways of the week while the first and the last day gave way.

On Monday the 18th, the ASI dropped by 1.51% to 162.03 and daily from then till Thursday, eyes were more on the future with ASI rally coming to 1.18% on the 19th, then 0.84% the next day before Thursday's 0.73% increase.

However, yesterday the week closed with ASI losing 0.11 points or 0.07%.

Hopes of trading building on Thursday's strong recovery to close the week upbeat deemed on Friday with 32.7% drop in traded volume to 10m shares; 61.95% decrease in traded value to Kes 214m and 17.4% drop in number of deals struck to 1033.

In the end, recoding deals for 2.6m shares on Friday, Safaricom accounted for some 43.3% or 29m shares of the week's volume and 39.64% or Kes 749m of traded value with the shares being sold at between Kes 24 and 26.80 each.

The banking as a sector came closest with Kes589m or 31.18% of traded value.KCB group was the most traded here witnessing deals for 8.3m shares worth Kes 355m at between Kes 41.5 and 44 per share.

Next was the manufacturing and allied sector with 11.14% or Kes 210m of the week's total value mostly as deals were struck for 712,000 in East African Breweries at between Kes 247 and 260 per share worth Kes 176m.

In all 38 equities closed the week with drops in price compared to 13 gainers. In % terms the top gainers during the week were East African Portland up 9.35%; Britam 6.41%; and Eaagads with 5.32% rise. Very important in view of its impact on the ASI basket, Safaricom gained 1.98% within the week.

Downwards, the drops were paced  ARM Cement with 10.95% followed by Nairobi business Ventures down 10%; Kapchorua Tea minus 8.64% and Express Kenya with 8.39% drop.

Yesterday, Friday the leading price losers in Kshillings terms were Kapchorua Tea down Kes 6.00 per share; Nation Media and I&M Holdings down Kes 3.00 each and Standard Chartered bank with Kes 2.00 decline.

The top gainers were Bamburi cement up Kes 5.00 per share, Diamond Trust Bank with Kes 2 per share and Sasini up Kes 1.25 per share.

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