FEB 21, 2018: KAKUZI DIVES AT NAIROBI SECURITIES EXCHANGE

Today at the Nairobi Securities Exchange, Kakuzi PLC of the agricultural sector lost all Ksh 35 per share it gained last Monday in a day high upward movement.

At Ksh 390 per share had hit new year high on Monday but today, it slipped back again to Ksh 355 per share.

This time though, the All share index closed in the same direction as well, easing by 0.03 points to 181.71.

It was driven down by a total of 17 higher margin drops compared to 23 gains. Other major price drops recorded were Ksh 1 drops each by Sasini in the same sector with Kakuzi; I&M Holdings; and East African Breweries.

The 23 price gains were paced by Crown Paints with Ksh 4 per share rise followed by Agriculture sector's Williamson Tea, up Ksh 3 per share and Ksh 1 per share gains by Car & General; Standard Chartered bank and Jubilee Holdings.

The market was neither bullish nor bearish about banks as equal number (5) of them gained and dropped prices but it was certainly more bullish about insurance and Commercial sectors.

In the Insurance sector, of the 6 quoted equities, only Sanlam Kenya closed firm, the rest gained in price led by Jubilee Holdings and Liberty Kenya.

In the case of Commercial and services, of the 7 with price changes, 5 closed up led by Standard group up by Ksh 0.75 per share and 2 ended down: Nairobi Business Ventures and Deacons ltd with Ksh 0.15 and 0.05 per share respectively.

On the other hand, all three price changes in the manufacturing and allied sector were down led by EAB' s Ksh 1 per share decline and Unga Group's gradual slip, this time, by Ksh 0.25 per share from the rally it experienced when news of hovering take over bid broke recently.

Trading indicators trended down as well as traded volume dropped to 27.24m shares from yesterday's 35.04m and traded value declined to Ksh 1.02bn from Ksh 1.31bn previously.

Safaricom was back at the top of the market after yesterday's back seat both in terms of volume and value. It recorded deals for 15.1m shares at between Ksh 29 and 30.25 per share worth Ksh 452m or 44.16% of total value.

The banks together accounted for Ksh 434m or 42.39% of traded value paced by rare exchange of 752,000 units in Diamond Trust Bank for Ksh 157m after touching 12 month high and easing down.

Other equities with deals for above 1m shares were Cooperative bank (3.133m shares); Equity Group (2.148m units); KCB with 1.752m shares and Kenol Kobil in the energy and petroleum sector with deals for 1.08m shares.

After two days of rising traded value, the bond market slowed down today to record 45 deals for only Ksh 1.95bn compared to 60 deals worth Ksh 4.3bn yesterday.

Sell or buy back was rather active though with deals in 5 stocks while deals were recorded in only 2 infrastructure bonds of below Ksh 50m nominal value and only 8 in government fixed income with above Ksh 50m nominal value.


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