JAN 30, 2018: KAKUZI, BAT TUG OF WAR AT NAIROBI STOCK MARKET

At the Nairobi Securities Exchange today Tuesday January 30, 2018 Kakuzi PLC and British American Tobacco ( BAT) virtually did a tug of war over the All shares index which Kakuzi won.

The All share index eased by 0.12 points to 181.06 without a change in the price of Safaricom and some other major high priced equities as Kakuzi dropped by Ksh 35  to Ksh 355 per share 

It had hit new year high of Ksh 390 per share yesterday but promptly settled at Ksh 355 today while witnessing deals for only 200 units.

It was more or less helped to pull the ASI down by 18 other price drops with Stanbic Holdings trailing Kakuzi down Ksh 4.50 per share as it closed at Ksh 80 per share after hitting day high of Ksh 80.50 and so down on Monday's closing Ksh 84.50 per share.

Diamond Trust Bank too added little shoulder to the wheel downwards by closing Ksh 2 per share down.

On the other side of the tug of war were 18 price shift upwards led by BAT as it settled at Ksh 779 per share after closing yesterday at Ksh 760. Unlike the major price losers though, it recorded deals for 116,700 units.

The next major price gainers were Standard group and Sanlam Ltd up Ksh 2.50 and 1.50 per share respectively.

Something a bit rare happened in Barclay's bank. Despite recording rare deals for 2nd highest 14.7m shares, closed without change at Ksh 10.50 per share after touching day high of Ksh 10.60 per share and low of Ksh 10.30.

The shares were thus sold at between Ksh 10.30 and 10.60 per share worth Ksh 154m which paced traded value in the banking sector.

Safaricom too closed firm but witnessed deals for 18m shares  dealt at between Ksh 29.50 and 30 per share worth Ksh 535m or 44.21% of market traded value.

Banking accounted for Ksh 414m or 34.18% of traded value with KCB group, up 1.7%, trailing Barclay's closely with deals worth Ksh 133m followed by Equity Group, down 1.71%, with 2.62m shares exchanged for Ksh 115m.

The manufacturing and allied sector too chipped quite a bit: 18.29% of Ksh 221m as East African Breweries, up Ksh 1 per share, recorded deals fie 512,300 units worth Ksh 130m and as BAT's 116,100 units ended worth Ksh 90m.

The bond market had a second consecutive good day, closing with Ksh 3.96bn in 67 deals compared to yesterday's Ksh 2.6bn in 73 deals. 

No corporate bond deals and no sell or buy back unlike yesterday.


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