JAN 10, 2018: SAFARICOM DOWN AT NAIROBI SE

Three equities, Safaricom, I & M Holdings and Jubilee Holdings paced Nairobi Securities Exchange today Wednesday, January 10, 2018 in quite different ways.

The market's dominant equity by capitalisation, Safaricom, eased by Ksh 0.25 to Ksh 27.75 per share after closing Tuesday firm at Ksh 28 per share.

It thus was instrumental in bringing down the All share index by 0.22% or 0.38 points to 173.76 after yesterday's rise.

Safaricom eased while deals were struck for 12.92m of its shares at between Ksh 27.75 and 28.00 per share worth Ksh 361m or 40.94% of total market traded value of Ksh 883.0m which itself was down 14.3% on Tuesday's Ksh 1.03bn.

However it was I &_M Holdings in the banking sector that led 23 price drops for the day as it closed Ksh 4 per share down.

I & M had ended Tuesday at Ksh 119 per share, eased slightly to day high of Ksh 118 then dipped further to close at Ksh 115 per share.

It was followed by EAAGADS ltd in the Agricultural sector and Crown Paints as each closed down Ksh 2 per share.

On the other hand, Jubilee Holdings in the insurance sector, paced 16 price gainers with Ksh 2 per share top up.

More remarkable perhaps, was that Jubilee touched new 12 month high of Ksh 515 per share then hit day low of Ksh 480 before closing at Ksh 499 per share compared to Tuesday's Ksh 497 per share.

All other gains for the day were below Ksh 1 per share except Diamond Trust Bank which edged upwards by Ksh 1 per share.

The banking sector recorded traded value of Ksh 188m or 21.31% of market total with Equity group, up Ksh 0.25 leading the pack.

Equity witnessed deals for 2.88m shares at between Ksh 40.75 and 41.25 per share worth Ksh 118m amidst deals by all equities in the sector including KCB group's ownership change in 1.35m shares at Ksh 58m while closing Ksh 0.25 per share up as well.

Despite losing Ksh 1 per share East African Breweries still dominated manufacturing and allied Ksh 155m or 17.62% traded value with deals for 638,200 units at between Ksh 236 and 240 per share worth Ksh 153m.

In the commercial and services sector, WPP Scan group witnessed rare deals for 753,200 units at between Ksh 18 and 19 per share worth Ksh 14.2m to chip in the lion share of Ksh 20.6m traded value or 2.34% of market total.

Two other equities also recorded deals for above 1m shares: Kenya Re and Kenya Power & Lighting..

Kenya Re witnessed deals for 5.04m shares worth Ksh 99m at between Ksh 19.5 and 20.25 per share while closing up by Ksh 0.20 per share. Only Jubilee Holdings throwing in Ksh 17.8m from deals for 35,700 shares, contributed much further to the sector's Ksh 122 traded value or 13.92% of market total.

At the bond market, the bounce recorded on Monday was missing once again as traded value eased further to Ksh 1 bn from yesterday's Ksh 1.3bn.

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