FEB 14; 2018: ALL SHARE INDEX STILL UP AT NAIROBI SE

Against possibilities, Safaricom today February 14, 2018 at the Nairobi Securities Exchange closed up by Ksh 0.25 per share to help keep the All share index upwards 0.61points at 178.96.

Yesterday, it had been joined by British American Tobacco to reverse ASI downwards trend and Henates had fear for another rise for Safaricom today and hence projected a drop in ASI in more or less undulating pattern.

That was not to be as Safaricom joined 14 other price gainers to push the ASI upwards despite very close 13 price drops.

Safaricom had closed yesterday at Ksh 28.50, up Ksh 0.25; then opened today at Ksh 29 per share then hit day low and close of Ksh 28.75.

Leading gain for the day was however recorded by Unga Group up Ksh 3.25 per share. It was rather easy for Unga as from day low of Ksh 41.25 per share it hit day high and close of Ksh 42.75.

Unga was trailed by East African Portland with Ksh 2 per share gain and National Bank up Ksh 0.70 per share.

Part of the reason for ASI rally could be that simply gains recorded within the day were of lower margins. Top drops were Ksh 2.25 per share in Sasini and demutualised Nairobi Securities Exchange with Ksh 1.45 per share decline.

The NSE ended yesterday at Ksh 20 per share, touched day high of Ksh 20.25 and low of Ksh 18.0 before rallying abit to close at Ksh 18.55 per share, down Ksh 1.45.

Both were trailed by the duo of Diamond Trust Bank and British American Tobacco with Ksh 1 per share decline.

Trading improved too at the equities market with traded volume almost doubling at 30.6m shares, up 90.1%; and traded value rising by lower 48% to Ksh 760.8m although number of deals struck eased by 5.29% to 1146.

Ken Kobil, in the energy and petroleum sector alone accounted for more than 50% of traded volume as it recorded deals for 16.26m shares worth Ksh 244m at between Ksh 15 and 15.50 per share.

It thus contributed substantially to the sector's Ksh 247m traded value or 32.56% of market total. It ended the day down by Ksh 0.30 per share.

The banking sector with Ksh 340m traded value or 44.71% were ahead but as all 11 banks quoted recorded deals paced by Equity Group with 3.033m shares traded at between Ksh 42.75 and 43 worth Ksh 130m followed by NIC, down Ksh 0.25 per share, with deals for 3.465m shares worth Ksh 122m.

Safaricom recorded Ksh 89m traded value as 3.08m shares changed hands at between Ksh 28.75 and 29 per share. This came to only 11.72% of market total traded value.

The bond market took a dive of sorts first time this week as traded value came to Ksh 1.356 bn in 29 deals compared to Ksh 4.567bn in 50 deals yesterday.

There were no corporate deals, only seven stocks of above Ksh 50m nominal value witnessed deals compared to 17 infrastructure bonds of below Ksh 50m nominal value. No sell or buy back either.

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