FEB 28, 2018: BOND RALLIES AT NAIROBI SECURITIES EXCHANGE

After days of average trade, the bond market at Nairobi Securities Exchange today rallied strongly to record 67 deals worth Ksh 3.475bn compared to Ksh 1.73bn in 42 deals yesterday.

There were no corporate bond deals and the only one recorded in sell or buy segment was very small but treasury bonds of below Ksh 50m part of the market was crowded with deals.

In all 35 fixed income treasury stocks recorded deals and none was worth less than Ksh 1m.

On the other hand, 18 stocks with above Ksh 50m nominal value witnessed deals and so, in the end, both segments contributed significantly to the leap in both traded volume and value.

At the equities market, it was a different tune as traded volume dropped to 23.63m shares from 25.09m, traded value eased to Ksh 832.75m from Ksh 864.3m and yesterday's year to date top number of deals scaled down to 1326 from 1550.

But the All share index closed 1.09 points up at 181.77 as Safaricom closed Ksh 0.25 up among a total of 21 price gains and inspite of whopping Ksh 13 per share dive in British American Tobacco.

BAT touched a high of Ksh 769 per share, low of Ksh 693 before closing at N756 per share, as yesterday's Ksh 769 per share.

Standard Chartered Bank also applied pressure downwards on the ASI as it closed down by Ksh 2 per share. It had closed yesterday at Ksh 210, retained today for a while as day high then slipped to close at Ksh 208 per share.

Other major price drops include Jubilee Holdings down Ksh 1 per share after yesterday's leading price gain, and Kenya Airways slip by Ksh 0.70 per share.

Apart from Safaricom's always weighty gain, the market was a bit bullish about the banks as out of nine price changes, only Standard Chartered went down.

The gains here led by both KCB Group and NIC Group each with Ksh 1.25 per
share gain followed by Ksh 1.50 per share rise in EAAGADS ltd and  Ksh 0.75 
and 0.70 per share rise in the price of Equity Group and National Bank respectively.

However, leading gain for the day was by Crown Paints up Ksh 2 per share.

In terms of traded volume and value, Safaricom paced the market with 
deals for 10.93m shares worth Ksh 326m or 39.19% as they were traded at between Ksh 29.50 and 30 per share.

The only other deals for above 1m shares were recorded in the banking sector  as KCB witnessed deals for 2.06m shares worth Ksh 97.8m; Equity Group chipped 1.41m shares worth Ksh 62.6m and Cooperative Bank recorded deals for 2.89m units worth Ksh 51.9m.

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