JAN 19, 2018: KEN KOBIL RECORD OFFLOAD AT NAIROBI SE

Week 3 closed today at the Nairobi Securities Exchange with Ken Kobil in the Energy and Petroleum sector recording unexpected offload.

It witnessed deals for 369.977m shares thus bringing its total number of shares that changed hands within the week to 385m traded at between Ksh 14.6 and 15 per share worth Ksh 5.5bn.

Ken Kobil by today had issued capital comprising 1.471bn shares and so, today's volume represented some 25% of this issued capital. Who offloaded and why, of course, a good question to seek answers for better investment decision making.

This impact of the offload on trading was obvious: the day's traded volume jumped to 387m shares compared to 33.7m yesterday and traded value came to Ksh 5.96bn as against Ksh 1.014bn previously.

It also shot up week 3 trading to Ksh 8.9bn in value compared to Ksh3.2bn in week 2 and 482m shares as against 113m shares previously.

It thus dwarfed even Safaricom and fellow power companies even though Kenya Power and Lighting also recorded deals for impressive 4.483m shares today as well.

Safaricom witnessed deals for 6.59m shares thus bringing its week 3 total to 37.33m, just about 10% of the Ken Kobil figure. Today however, Safaricom hit new all time high of Ksh 29.75 then closed at Ksh 29.50, up Ksh 0.50 per share.

The banking sector was also pushed to the sidelines as it contributed Ksh 1.8bn to the week's total traded value or 20.15%.

KCB recorded deals for 1.9m shares today thus raising its full week total to 26m worth Ksh 1.2bn traded at between Ksh 44.75 and 47 per share although it closed firm today.

Barclay's bank of Kenya recorded the 4th highest week 3 traded volume with 11.01m shares worth Ksh 109m out of which today accounted for 297,000 shares 

The All share index also hit new high at 180.17 up 4.1points on a week ago as Barclay's led 24 % gainers with 10.77% for the week followed by Eaagads up 10% from Ksh 22.50 to 24.75 per share and HF group with 7.88%.

There were 25 price losers within the week led by Nairobi Business Ventures in % terms with 12.12% followed by Deacons down 7.94% and Kenya Airways with 7.8%.

Today, though 23 price gains and 12 drops were recorded with Kenya Orchards closing Ksh 5 up  at Ksh 95 per share while only 100 units changed hands.

Jubilee Holdings too gained Ksh 5 per share as it closed at Ksh 505 per share and witnessed only 500 units traded volume.

On the other hand, Kakuzi slipped Ksh 5 per share to close at Ksh 155 followed by Sanlam down Ksh 2.25 per share to close at Ksh 27 per share.

The market was certainly abit bullish about the banking sector as all seven price changes recorded were positive with NIC pacing with KSh 3 per share as 68,900 units changed hands.

The bond market ended the day with marginal rise in traded value to Ksh 917.5m in 23 deals  compared to 709.5m in 30 deals in week 2.


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