FEB 7, 2018: ALL SHARE INDEX TUMBLES AT NAIROBI SE

For the first time for a long while, the All share index tumbled by 3.27 points or 1.8% to 178.11 as bears ran scared particularly of banking, energy & petroleum equities and also brought mighty Safaricom down.

All these were as European and Asian markets rallied from Tuesday's free fall in the wake bearish wall street.

In the case of Safaricom, it lost Ksh 1 per share as its day high came to Ksh 29.25 accompanied by low of Ksh 28 before closing at Ksh 28.50 per share, all lower that yesterday's Ksh 29.50.

This must have helped the ASI down greatly but helped too by 7 price drops out of 9 banks with price changes; and all five with changes in energy and petroleum sector heading down.

Down Ksh 1 each per share KCB and Standard Chartered bank led bank and market price decline alongside Sasini, Jubilee Holdings; British American Tobacco and of course, Safaricom.

There were only 12 gainers led by Standard Group up Ksh 2.75 per share as it settled at Ksh 34.50 and Nation Media as it closed at Ksh 108 per share after touching day high of Ksh 114. Both are media groups in the same commercial and services sector.

Two other equities also gained above Ksh 1 per share each: Car & General which topped up by Ksh 1.75 per share and Crown Paints with Ksh 1.50 per share increase.

Yesterday's all round upbeat in all the segments of the market could not be replicated today as traded volume almost halved to 35.9m from 68.06m shares and traded value closed at Ksh 1.1bn compared to Ksh 1.997bn previously.

Number of deals struck also declined to 1326 from 1485.

As usual, Safaricom paced volume and value as it recorded deals for 20.68m shares worth Ksh 590m or 53.66% of market total with the shares being traded at between Ksh 28 and 29.25 per share.

The banks were responsible for 28.55% of traded value chipping in Ksh 314m led by KCB Group with Ksh 241m as 5.318m of its shares were traded at between Ksh 45 and 46.25 per share.

Equity Group too, down 1.72% accounted for Ksh 38m from 896,000 units that changed hands followed by NIC bank, down 1.34%; with deals for 318,000 units worth Ksh 11.7m.

Strangely the bond market showed some resilience as, despite no deals in corporate bonds and Infrastructure stocks, action in the above 50m nominal value and sell or buy back propped up traded value to Ksh 4.789bn in 67 deals compared to Ksh 5.497 in 57 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