OCT, 23 2017: BULLISH START TO WEEK 43 AT NAIROBI SE

The Nairobi securities exchange closed on a rather bullish note today, Monday October 23 2017 after the heroes day break and after 4-day week 42 during bears had their.

Unlike the daily drop recorded by the All shares index last week, it closed today 0.74% or 1.14 points up at 156.07.

This was a price gainers (17) were just one ahead of losers(16) but obviously, the ASI grew because the Kshillings gains were far more outstanding and affected more high price equities and of course, with some helping hands from Safaricom.

Top gainer was Jubilee Holdings up Kes 9.00 as it hit day high of Kes 491, low and close of Kes 490 per share after ending week 42 at Kes 481 per share.

Jubilee also contributed substantially to the Insurance sector's Kes 167m traded value as it witnessed deals for 337,100 as it danced between Kes 491 and 490. The worth of the deals was Kes 165m.

There were other major price gains. Standard Chartered Bank closed Kes 7.00 up as it rose from last week close of Kes 216 per share to day high of 225 and day low of Kes 220 before settling at Kes 223 per share.

Bamburi Cement, in the Construction and Allied sector ended the day Kes 5.00 up simply by hitting day high and close of Kes 180 after ending last week at Kes 175 per share.

Also noteworthy was the Kes 4.00 gain by East African Breweries even as it failed to sustain day high of Kes 247 and settled at day low of Kes 244 per share.

Like Jubilee Holdings, EAB also witnessed deals that had impact on traded value. Traded at between Kes 244 and 247 as it searched for place to perch, deals were recorded for 681,800 units worth Kes 167m.

On the price drops side of the scale, only two dips were as outstanding. Kapchorua Tea went down Kes 5.00 per share as it hit day high and close of Kes 75.00 per share and Diamond Trust Bank shed Kes 4.00 per share again as it dropped from last week's Kes 180 per share to day high and close of Kes 175.00.

The equities market was relatively more active too as traded volume more than doubled to 34.66m and traded value almost tripled to Kes 1.178bn with great shove from the high priced equities with high value deals.

Indeed, it was because of the impact of deals in high priced equities like Jubilee Holdings and EAB that Safaricom's dominant 67.5% share of the day's traded volume (23.4m shares out of  34.66m market total) turned to be only 48.16% of traded value (Kes 567m out of Kes 1.178bn).

The Safaricom shares were traded at between Kes 23.75 and 25.00 per share and it ended the day Kes 0.25 higher thus helping to lift up the ASI as topmost market capitalisation.

Three other equities also recorded deals for above 1m units: Two banks, KCB and Equity, recorded deals for 3.975m and 2.667m worth Kes 146m and Kes 97m respectively thus accounting for the bulk of the Kes 253m traded value or 21.52% of market  total by the sector.

The other above 1m units equity was Kenya Air in which 1.117m shares changed hands at between Kes 4.75 and 4.95 per share worth Kes 5.4m.

The bond market missed out on the equity market mood as only a rather very low Kes 288m traded value was recorded.

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