NOV 7, 2017: SAFARICOM, DOWN 2%; PACES NAIROBI SE

Today, Tuesday, November 7 2017, at Nairobi securities exchange, Safaricom recovered from yesterday's relatively low trade to dominate both traded volume and value even while losing 2% or Kes 0.50 per share.

Total traded volume more than doubled to 45.8m with 34.976m shares exchanged in Safaricom accounting for 76.3%.

Then, because deals in higher priced equities were harder to come by, the worth of the deals came to Kes 857m or a higher 77.18% of market traded value.

The shares were traded at between Kes 24.25 and Kes 25.00 per share but in the end, Safaricom closed Kes 0.50 down.

In view of its dominant market capitalisation, this must have contributed to the 1.07% or 1.75 points drop recorded by the All shares index at 161.34 although price losers at 22 were well ahead of gainers (10).

Lead drop in Kes terms was however witnessed by I & M Holdings down Kes 4.00 per share as it stayed at Kes 120 per share through the day compared to Kes 124 yesterday close.

At 3.23%, this was the 3rd highest % drop behind TPS East Africa and Olympia Capital. TPS paced % decrease with 6.61% decline or Kes 2.00 per share while Olympia capital trailed with 5.88% decrease or Kes 0.20 per share.

Top Kes gain was by Standard Group, up Kes 1.50 per share or equally leading 4.48% gain. The group closed yesterday at Kes 35 per share and like I&M Holdings stayed at lower Kes 33.50 all through the day.

Traded value for the day came to Kes 1.1bn up 104.6% and Safaricom lion share was followed by the banking sector with 18.89% or Kes 209m.

This was packaged as Equity group recorded deals for 2.993m units at between Kes 40 and 40.50 per share worth Kes 119m; Cooperative bank, down 10 Kcents , witnessed deals for 2.176m shares worth Kes 35.7m and KCB group chipped Kes 32.5m in deals for 798,700 units alongside deals in some other banks like Barclay's bank for 504,300 shares.

The bond market recovered as traded value came to Kes 1.62bn in 39 deals as against 32 deals worth record low Kes 49m yesterday.

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