MAR 13, 2018: ALL SHARE INDEX UP STRONGLY AT NAIROBI SE

The All share index closed up rather strongly today March 13, 2018 at the Nairobi Securities Exchange perhaps hinting at new optimism in the face of final meeting of minds between President Uhuru Kenyatta and his political rival, Raila Odinga.

The ASI rose by 1.4 points or 0.82% to new high of 182.74 but though relatively strong, it is no where near the giddy growths recorded by November 2017.

Top growth last November was 4.27 points to 167.90 on the 23rd, followed by 3.90 and 3.45 points rise on 22nd and 21st respectively.

Since this year, top growths were recorded in January paced by 1.87 points to 176.07 leaving February and early March with average growths and rather strong dives.

Today's leap occurred as 15 price gains and 13 drops were recorded. Not quite a bullish session and can be explained more by Ksh 0.50 or 1.71% per share rise in the share price of Safaricom.

Safaricom witnessed deals for relatively low 4.67m shares worth Ksh 139.7m or 14.79% of market traded value of Ksh 944.87m, up 29.5%.

Safaricom closed yesterday firm at Ksh 29.50 per share, hit a day high of Ksh 30 and a low of Ksh 29.50 then closed at Ksh 29.75 per share.

The gainers were however led by Bamburi  Cement as it closed Ksh 3 per share up while recording deals for 17,700 units at between 179 and 181 per share.

Bamburi Cement hit day high of Ksh 181 per share and low of Ksh 179 then closed at Ksh 180 per share compared to Ksh 177 per share previously.

This time though of 8 price changes in the banking sector, two were negative as NIC Group and National Bank closed down while Equity Group, HF Group, KCB Group, Stanbic Holdings , Barclay's bank and Cooperative bank gained.

Downwards, the drops were paced by Eaagads ltd as it found and closed at Ksh 21.75 per share, down Ksh 2.25 per share on Monday's Ksh 24 per share and Ksh 2 per share decline by East African Breweries as deals were struck for 162,800 of its shares at between Ksh 236 and 242 per share worth Ksh 39m.

For the second day running, the banks were the most active in terms of trade with an offload of 10.3m units in KCB Group for Ksh 519m led the sector followed by deals for 2.18m shares worth Ksh 106m I'm Equity Group and for 2.12m in Barclay's bank for Ksh 31.9m.

The bond market was active more in terms of investors interest as against traded value as number of deals rose to 90 compared to 38 yesterday but traded value dropped to Ksh 2 bn from Ksh 3.3bn.

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