FEB 12, 2018: STILL DOWNBEAT AT NAIROBI SECURITIES EXCHANGE

Today Monday February 12, 2018 week 6 started on a downwards trend for equities but tallied a bit at the bond segment.

The All share index went down by 2.18 points to 177.8 as 19 price drops were recorded, including Safaricom's Ksh 0.75 per share drop as it recorded one of its lowest trade since the year (1.5m shares).

In contrast there were only 12 price gains but this included Unga Group Ksh 8.25 per share hike to new year .

Unga had closed last Friday at Ksh 29.25 per share and as official earnings warning of earnings hit the market, from day low of Ksh 30 it hit day and new year high of Ksh 37.50 per share 

Unga Group thus recorded deals for 168,000 units at between Ksh 30 and 60 per share to shore up manufacturing and allied sector contribution to traded value to Ksh 8.6m or 1.38%.

It was not the Equities All share index alone that collapsed: Trading indicators too pointed downwards with traded volume dropping by 43.6% to 20.669m; traded value declining by 57.4% to Ksh 622.09m and number of deals easing by 7.88% to 1110.

Top deals were recorded in the banking and Energy and Petroleum sectors. The banks accounted for Ksh 430m or 69.25% of traded value as Equity Group paced market and sector with deals for 5.49m shares worth Ksh 236m.

Equity Group closed the day down Ksh 0.25 per share but the day high trades were recorded at between Ksh 42.25 and 43.5 per share. Within the banking sector it was trailed by KCB Group also down Ksh 0.25 per share, as it witnessed deals for 2.385m units at between Ksh 44.75 and 45.50 per share worth Ksh 107m and NIC Bank in which Ksh 41m worth of deals were struck for 1.16m shares.

The Energy and Petroleum sector was also active enough to chip in Ksh 67.6m or 10.88% to the day's traded value with Ken Gen pacing with 4.33m shares changing hands at between Ksh. 8.35 and 8.50 per share worth Ksh 36m; Ken Kobil witnessing deals for 1.4m units worth Ksh 21m and 1.15m shares changing hands in Kenya Power and Lighting.

TPS Eastern recorded rare deals for 1.445m shares worth Ksh 50.9m as it closed 2.08% thus accounting for the lion share of Ksh 52m or 8.43% of market total value.

The market was indeed more bearish for the insurance sector as all 5 price changes recorded went down led by Sanlam Kenya's Ksh 0.75 per share drop, Ksh 0.15 per share decrease in Britam Holdings price; Liberty Kenya's Ksh 0.15 per share all ahead of Ksh 0.05 per share drops in CIC insurance and Kenya Re.

The bond market recorded increased traded value as it closed with deals worth Ksh 3.2bn compared to Ksh 2.9 bn last Friday.

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