JAN 23, 2018: ASI RECOVER BUT NAIROBI SE BANK BEARISH

Today at the Nairobi Securities Exchange, the All share index recovered from yesterday's drop with 0.62 points increase to 180.43 but the market was bearish on bank and agriculture sectors.

In the case of banks, 8 price changes were recorded by 7 were downwards with NIC pacing down with Ksh 1.25 per share drop followed by Equity group which declined by Ksh 0.75 per share.

In the case of the agriculture sector, all four price changes were downwards with Kakuzi leading with Ksh 1 per share drop.

In all there were 24 price drops but the ASI closes upwards despite only 11 equities ending with gains. 

Top gainers include B O C Kenya up Ksh 9 per share as it closed at Ksh 109 after hitting day high of Ksh 110 and low of Ksh 105 per share.

Its trail upwards was followed by East African Breweries up Ksh 3 per share as it settled at Ksh 247 per share after day high of Ksh 250 and low of Ksh 245.

Then Diamond bank, Bamburi cement and Crown paints trailed  with Ksh 1 per share rise each.

However, the  more deciding factor for the ASI close upwards appear to be Safaricom's Ksh 0.25 per share gain.

Trading indicators except number of deals ended positive. Traded volume rose to 29.68m from yesterday's 19.53m and traded value crossed the 1bn mark at Ksh 1.03bn as against Ksh 552.4m previously.

Even with all banking equities recording deals, Safaricom still topped volume and value with deals for 16.96m shares at between Ksh 29.25 and 29.75 per share worth Ksh 500m or 48.34% of market total.

The banks, on the other hand, accounted Ksh 401m or 38.81% traded value with Equity Group pacing with deals for 6.8m shares at between Ksh 42.50 and 44 per share worth Ksh 292m.

KCB Group witnessed deals for less that Ksh 1m  at Ksh 33m traded value involving 761,200 units as it closed Ksh 0.50 or 1.11% down.

It was just ahead of Cooperative Bank's Ksh 30.7m traded value from exchange of 1.837m shares .

At the bond market traded value continued with gradual recovery by closing at Ksh 1.7bn compared to Ksh 1bn on Monday.

Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more