WEEK 8: COOKIE INTACT AT NAIROBI SECURITIES EXCHANGE

The Kenyan economy is not presently in the best of shapes and with Raila Odinga declaring himself the people's president, the political scene remains hazy but in spite of it all, the cookie did not crumble at the Nairobi Securities Exchange in week 8.

On the contrary, the All share index managed to grow by 0.53% to 180.78; traded volume rose to 113m shares from 98m shares the previous week and traded value closed at Ksh 4.4bn compared to N2.7bn previously.

Even the bond market recovered strongly closing week 8 with Ksh16.4 bn traded value as against Ksh 13.3bn 

The ASI edged upwards despite 26 price drops and 21 gains within the week when compared to week 7 closing levels

Leading % price losers was Home Africa, down 8% per share as it closed at Ksh 1.15 from Ksh 1.25 per share previously.

It was followed by Nairobi Business Ventures with 6.9% drop to Ksh 2.70 from Ksh 2.90 per share and WPP Scan down 6.02% to Ksh 16.40 per share from Ksh 17.45.

On the other hand, the gainers were paced by Longhorn with 5.94% ride to Ksh 5.35 from Ksh 5.05 per share trailed by Kenol Kobil, up 4.97% to Ksh 15.85 per share and Ken Gen which closed week 8 up 4.88% at Ksh 8.60 per share.

Safaricom was the most actively traded with 39.49m shares changing hands at between Ksh 29.50 and 29.25 per share 4.996m of which was recorded yesterday Friday, February 23, 2017, week 8's last trading day. The total Safaricom trade was valued at Ksh 1.18bn or 26.31% of market traded value.

The banking sector accounted for 55.98% of all week traded value with Equity Group pacing with 17.71m shares dealt in for Ksh 764m followed by KCB Group as it recorded deals for 13.5m shares worth Ksh 616m.

Friday trading helped a bit keep the cookie intact as 16 price gains and 14 drops were recorded and the All share index closed 0.03 points up.

Top gainers were Jubilee Holdings up Ksh 4 per share as it touched a day high of Ksh 505 per share, low of Ksh 501 before closing at Ksh 504 compared to Ksh 500 per share by week 7 close and Bamburi cement with Ksh 3 per share after hitting day high of Ksh 179, a low of Ksh 175 then closing at Ksh 174 per share.

Top drop was by I& M Holdings as it turned out to be the lone exception to market bullish inclination towards the banks on Friday. 

I & M dropped by Ksh 4 per share as it found and closed at Ksh 116 per share alongside five price gains in the banking sector led by Ksh 0.50 per share lift in Stanbic Holdings followed by Ksh 0.25 rise each by Equity Group and NIC Group.




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