WEEK 45: COULD HAVE BEEN WORSE AT NAIROBI SE.

For a week that followed rerun presidential elections boycotted by the opposition, week 45 at the Nairobi securities exchange ended yesterday Friday November 10, with a pin prick in the form of 3.53% or 2.15 points drop by the All shares index to 160.97.

On Friday itself, the ASI eased by 0.79 points or 0.49% although trading recovered from the doldrums of Thursday strongly as traded volume rose by 139% to 17.4m shares; traded value increased by 220% to Kes 509m but number of deals dropped to 910 from 976.

Thus week 45 ended 19.2% down to 97.2m traded volume and by 16.7% in traded value to Kes 3bn compared to previous week's Kes 3.6bn.

In Kshillings terms, top price gainer for the week was Jubilee Holdings, with major Kes 28.00 per share top up as it closed yesterday at Kes 494 per share compared to Kes 458 previously.

The bulk of Jubilee's gains was clocked yesterday as it hit day high of Kes 495 before slipping a little to close at Kes 494 per share representing Kes 23.00 increase on Thursday's Kes 471 per share.

At 7.86% this fell short of the week's top % gain which National Bank of Kenya claimed with 8.45% rise Kes 10.90 per share as against previous week's Kes. 10.05.

It also fell short of 8.16% gain reported by Nairobi Business Ventures to Kes 2.65 from Kes 2.45 per share for the week.

Leading price drop for the week was by Kapchorua Tea in both % and Kshillings as it closed at Kes 71.00 per share, down Kes 8.00 or 10.15% on Kes 79.00 previously.

Kapchorua Tea shed almost 50% of that yesterday as it closed Kes 3.00 down after hitting day high of Kes 74 to close at Kes 71.00 per share.


In all there were 30 gainers and 14 price losers within the week and the most dealt in equity remained Safaricom in which deals were recorded for 47m shares sold at between Kes 24.25 and 25.75 per share worth Kes 1.6bn or 55.09% of total traded value. It also lost 3.92% or Kes 1.00 per share within the period.

Out of the Safaricom traded volume, 8.025m exchanged hands on Friday representing yet another relatively low trade day for it.

The banking sector accounted for 25.7% of the week's traded value or Kes 775m with Equity group accounting for Kes 262m in deals involving 4.8m shares sold at between Kes 39.25 and 41.00.out of which 515,500 shares changed hands yesterday.

KCB group was another major contributor with deals on Friday for 993,500 units which topped its full week volume to 4.82m worth Kes 198m just like Cooperative bank down 2.69% in week 45, with Friday's closing 180,000 units that brought all week volume to 8.54m , second only to Safaricom, worth Kes 109m.

However, there some above 1m volume equities yesterday that did not make it to the top five by volume. Ken Gen, in the Energy and Petroleum sector, down 6.11% within the week, recorded deals for 2.37m units yesterday but its all week volume chipped only Kes 29.6m into the sector's Kes 130m or 4.33%.

NIC bank too also witnessed deals for 2m shares but because it was rarely traded, that did not drive it to the top range.

Week 45 ended on a good note for the bond market as traded value rose by 60.4% to Kes 8.5bn and for Equities traded fund segment as very rare 1.09m shares in the only Real estate investment trust fund quoted changed hands bringing its week 45 total to 1.31m shares worth Kes 10.38m.







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