WEEK 39: BETTER AT NAIROBI SECURITIES EXCHANGE BUT....

Week 39 that closed yesterday, Friday September 29 2017 at the Nairobi securities exchange was more active than the previous week except that cautious investment still dragged All share index down by 2.23% or 3.70 points to 162.21.

The bond market that had been ranging on the low side for a while ended week 39 up 46.2% to Kes 9.5bn compared to previous week's Kes 6.5bn.

The Equity market also recorded improved trading as traded volume rose by 55.1% to 103.9m as against lowly 67m previously and traded value ended 35% up at Kes 2.4bn compared to Kes 1.8bn previously.

About 40.8% of the week's bond market  value was recorded yesterday Friday as 75 deals were struck worth Kes 3.879m which a great improvement on the Kes 996m in only 26 deals recorded the previous day, Thursday.

The Friday rally for bond was strong and it affected all 26 government treasury bonds with nominal value below Kes50m; a substantial number of fixed government bonds of above Kes 50m nominal value and one stock in the sell or buy back category in which Kes 200m was recorded.

Friday too saw some recovery in equity market traded volume by 57.9% to 18.08m and doubling of traded value to Kes 521.499m from Thursday's Kes 237.34m. Number of deals too closed at 1170 compared to 1089 previously.

Safaricom accounted for about 44.7% or 46.5m units of the week 39 traded volume worth Kes1.1bn or 48.9% of traded value with the shares changing hands at between Kes 24.5 and 26.25 each. On Friday alone, the volume recorded in Safaricom was 12.327m or about 68% of the day's volume.

The banking second was another double digit % contributor to traded volume closing the week with Kes 438m or 18.02% of the total with KCB group leading with Kes207m worth involving 4.9m shares traded at between 40 and 43.50 per share followed by Equity group, down 1.9% for the week, with deals for 2.2m shares worth Kes 86m.

The insurance sector too chipped in double digit share as it accounted for 11.29% or Kes 274m of traded value with Britam Holdings providing the main thrust with deals for 14.6m shares sold at between Kes 14.50 and 15.30 per share worth Kes 218m.

The yet to settle political dust impacted on pricing more during the week with 29 drops and 17 gainers recorded by Friday close when compared to week 38's close.

The top gainer in Kes terms was recorded in Williamson Tea as it closed Friday at Kes 185 per share, up Kes 15.0 on previous Friday's Kes 170 but not much was traded on it within the week, as usual.

Fellow tea maker, Kapchorua Tea, followed with Kes 7.00 to close the week at Kes 81.0 per share compared to Kes 74 previous Friday.

But top % gain was witnessed by ARM Cement as it closed Kes 1.8 or 14.75% up and recorded deals for third highest volume 13.03m after Safaricom and Britam Holdings.

The price drops in Kes terms were led by Jubilee which went down Kes 5.00 from week 38's Kes 480 per share close to Kes 475.

However, % drop was paced by EA Cables down 16.52% from Kes 5.75 to N4.80 per share and Uchumi supermarket which lost 16% at N3.15 per share as against Kes 3.75 previously.


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