FEB 19, 2018: INDEX DOWN AT NAIROBI DESPITE KAKUZI PLC LEAP.

Today at the Nairobi Securities Exchange, week 8 started with a minor puzzle as the All share index dropped marginally by 0.04 points to 180.21 despite Kakuzi PLC leading 16 price gainers with Ksh 35 per share leap.

Kakuzi found and settled at Ksh 390 per share within the day compared to Ksh 355 per share last Friday. And it was joined by 15 other price gainers against 14 price drops yet the ASI eased, though very marginally.

Besides, the duo of Williamson's Tea in the agriculture sector and Standard Chartered bank also closed up by Ksh 3 per share each but nothing doing, the ASI closed down.

Incidentally, Safaricom closed firm Ksh 29.25 per share after touching day high of Ksh 30, so no pressure on the index from its end.

However, lead price drop of Ksh 5 per share was recorded in Jubilee Holdings as like Kakuzi, it found Ksh 500 per share and hung on there till market close.

It was followed by East African Breweries down Ksh 2 per share; Crown Paints which slipped by Ksh 1.50 per share and Bamburi Cement which eased by Ksh 1 per share.

Trading was at most likely the lowest level since this year. Traded volume came to 8.8m shares compared to 13.67m last Friday and traded value too dropped to Ksh 254.26m as against Ksh 456.3m previously.

Safaricom was the only equity that witnessed above 1m traded volume by the end of the day. It recorded deals involving 4.489m shares at between Ksh 29.25 and 30 per share worth Ksh 132m or 52.01% of market total.

All the 11 listed banks recorded trade but the sector still only managed to chip in Ksh 102m traded value or 40.15% of the market total.

The bond market witnessed slightly improved trade as its traded value closed at Ksh 2.915bn from 37 deals compared to Ksh 2.15 bn in 30 deals last Friday.

Sell or buy back was active after a while with deals in two stocks worth Ksh 410m while 9 fixed interest government stock recorded deals and only 6 infrastructure bonds nominally valued above Ksh 50m witnessed deals.

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