NOV 6, 2017: RECORD LOW BOND TRADE AT NAIROBI SECURITIES EXCHANGE

At the Nairobi Securities exchange today, Monday November 6, 2017, the bond market closed with record low traded value of only Kes 49m compared to Kes 1.488bn last Friday.

Trade in usually fairly active government bonds above Kes 50m nominal value virtually dried up completely with only two deals in infrastructure bonds worth Kes 249,647 to keep the flag flying.

No deals in corporate bonds and so the bulk of the 22 deals for the day compared to 48 on Friday were struck in treasury bonds of below Kes 50m nominal value. There were no sell or buy back deals.

At the equities market, traded volume declined by 13.5% to 15.15m but traded value rose by 50.3% to Kes 542.68m from Friday's Kes 361.1m principally as deals were struck in some high priced equities to combine with dominant trade in medium priced ones. number of deals however dropped by 2.71% to 1329.

Traded volume was paced by Safaricom even while recording deals for, by its own standards, fairly low 1515m shares at between Kes 24.75 and 25.75 per share worth Kes 141m. In other words, Safaricom witnessed 37% of traded volume but 26% of traded value for the day. In the end, it closed the day Kes 0.50 down.

In the banking sector, KCB and Equity group recorded deals for above 1m units with KCB group pacing the sector with 1,71m shares changing hands at between Kes 41 and 42 per share worth Kes 70.8m and Equity group close on itsn heels with deals for 1.62m shares worth Kes 65m as it closed 25 Kcents down.

With Diamond Trust bank chipping in deals for 113,100 units worth Kes 21m alongside 7 other banks with deals, the sector ended with Kes 166m worth of deals or 30.75% of traded value. DTB was the high priced one amongst them.

Two other high priced equities with deals also made some difference: in manufacturing and allied sector, East African Breweries witnessed deals for 604,000 shares worth Kes 148m; just about the sectors total traded value and Jubilee Holdings, up 6.55% or day high Kes 19.00 per share recorded deals for 60,200 units worth Kes 29.4m.

Jubilee had closed Friday hit day high of Kes 490 per share, eased to low of Kes 458 then closed at Kes 497 per share.

Two other equities closed with above 1m volume each: Ken Kobil in the Energy and Petrolem sector ended with 2.2m shares changing hands at between Kes 15 and 15.40 per share worth Kes 33m and Kenya Airways in the commercial and services sector, witnessed deals for 1.079m shares worth Kes 6.4m as Kenya air price dropped by 4.06% or Kes 0.25 per share.

In the end, the All share index dropped by 1.41 points or 0.86%  to 163.09 as 17 price drops were recorded compared to 13 gains.

Top Kes drop was by Standard group, down Kes 3.50 per share as it stayed at Kes 33.50 per share through the day compared to Kes 37 per share close on Friday.

Trailing it were Nation Media and Bamburi cement down Kes 1.00 each while Jubilee Holdings top gain was trailed from afar by Kes 1.50 per share increase in the price of the share of Stanbic holdings followed by Centum investments up Kes 1.25 per share.

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