OCT 24, 2017: MORE BULLISH AT NAIROBI SECURITIES EXCHANGE

Yesterday was a bullish fresh air at the Nairobi securities exchange as Henates indicated but today, Tuesday October 24, 2017 was certainly more bullish.

Perhaps it is because at last the presidential election is to be rerun as directed by the Supreme court of Kenya on Friday and Kenyans, including the market, have given tomorrow and Friday itself off as holiday even though Railla Odinga is still drumming boycott.

Whatever there is, the market All shares index closed the day up by 2.04 points or 1.31% at 158.11 as 29 price gains were recorded compared to only 6 price drops.

The gains were across all sectors but resounded more in the agricultural; manufacturing and allied; banking and Commercial and services sectors.

From a very long distance the lead gain was by British American Tobacco in the Manufacturing and allied sector. BAT went through the day with day high and close of Kes 770 per share thus topping up by Kes 18.00 per share on Monday's close.

No other gainer came half way close with Kakuzi and Kapchorua Tea both in the Agricultural sector trailing with Kes 5.00 gain each.  Like BAT both closed the day on day high.

Williamson Tea also in the same sector rose by Kes 4.00 per share after hitting day high of Kes 172 and low of Kes 160 before ending at Kes 166 per share.

Jubilee Holdings too in Insurance sector, ended with Kes 4.00 per share gain as it hit day low of Kes 490, then high of Kes 495 before closing at Kes 494 per share.

Other major Kshillings gainers were East African Breweries up Kes 3.00 and Nation Media with Kes 2.00 per share gain.

The price gains were very few comparatively but there were major ones as well like Standard Chartered Bank's leading Kes 7.00 drop as it hit day high and close of Kes 216 per share.

Bamburi Cement too recorded major Kes 4.00 per share drop as it touched day high of Kes 182 per share and low of Kes 175 before closing at Kes 176 per share.

Trading trended down though as traded volume dropped by 38.1% to 21.45m shares and traded value tumbled by 49.7% to Kes 593.3m. There was however 10.8% rise in number of deals to 965.

Leading volumes were recorded by ARM cement as 6.677m shares changed hands at between Kes 13.75 and 15 per share; Equity Group with deals for 4.5m shares at between Kes 36 and 37.75 per share worth Kes 164m; and Ken Kobil with deals for 2.53m units worth Kes 37.6m at between Kes 14.50 and 15 per share.

Other equities with above 1m traded volume were KCB group with deals for 1.73m shares worth Kes 66m as it closed 4.08% up and fellow banker, Barclay's bank in which 1.11m units changed hands at Kes 10m.

Safaricom too recorded deals for 1.34m shares at between Kes 24.25 and 25.25 per share worth Kes 33m, no doubt a shadow of its normal trade per day.

The bond market improved significantly as traded value came to Kes 2.1bn in 35 deals compared to just Kes 288m in 25 deals yesterday.

No deals in corporate bonds , all 13 government bonds of below Kes50m nominal value recorded deals and sell or buy ended chipping  in Kes 300m worth.




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