JAN 9, 2018: BRITISH AMERICAN TOBACCO DECLINES AT NAIROBI

At the Nairobi stock market today, Tuesday, January 9, 2018; British American Tobacco PLC share price crashed after yesterday's 2nd highest price gain of Ksh 18 per share.

It closed the day at Ksh 753 per share, just Ksh 3 above its year low of Ksh 750 and Ksh 26 or 3.34% down on yesterday's Ksh 779 per share.

Gaining behind Kakuzi ltd yesterday came after a bit of a dance as it hit a day high of Ksh 780 and a low of Ksh 760 before closing at Ksh 779 per share. Today, however, it just settled at Ksh 753 through the trading period.

It thus paced a total of 16 price losers with Standard group trailing from a distance with Ksh 3 decline per share followed by Standard Chartered bank, down Ksh 2 per share.

Despite these major price drops though, the All share index rose by 0.21 points to 174.14 as the day also came up with 16 price gainers.

The leading gains were more marginal as Ksh 1.55 per share price gain by WPP Scan group topped the scale. It was followed by Diamond Trust Bank and Crown Paints with Ksh 1 per share price gain each.

The market was far more active when compared to yesterday in terms of activity. Traded volume came to 38.445m shares, more than double yesterday's 12.22m shares and traded value almost grew three times to Ksh 1.03bn as against just Ksh 366.38m yesterday.

As usual, Safaricom paced both traded volume and traded value as deals were struck for 20.5m of its shares at between Ksh 27.75 and 28.25 per share even while closing firm at Ksh 28 per share.

The deals in Safaricom shares were worth Ksh 574m or 55.7% of total traded value.

Unlike yesterday though when only 2 equities recorded deals for above 1m units, 4 did this time around with Safaricom being followed by Ken Gen in the Energy and Petroleum sector, more closely than it did yesterday.

At a price up by 2.43% or Ksh 0.20 per share, 11m shares of Ken Gen changed hands in deals worth Ksh 92.5m which was just about equal to the Ksh 95m or 9.24% the sector chipped into total traded value.

The banking sector contributed Ksh 109m or 10.61% to traded value with Equity group pacing the sector with deals at between Ksh 40.25 and 41 per share involving 1.463m units worth Ksh 59.7m.

The other equity with above 1m trades volume was Carbacid in the Manufacturing and Allied sector. Down 3.91% or Ksh 0.50 per share, Carbacid witnessed deals for 1.024m shares worth Ksh 12.5m.

However, as the sector accounted for Ksh 151m traded value or 14.69% of market total, the main contributor was East African Breweries as deals for 574,600 of its shares were struck at between Ksh 283 and 240 per share worth Ksh 137m.

The bond market was less active today as only Ksh 1.328bn traded value was recorded in 38 deals  compared to yesterday's leading 45 deals worth Ksh 4.45 bn 

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