MAR 14, 3018: BRITISH AMERICAN TOBACCO UP KSH 53 AT NAIROBI

Two days to the close of register to determine who is entitled to the Ksh 22.50 per share dividend proposed by the directors, British American Tobacco PLC today March 14 2018 bounced from year low with a record Ksh 53 per share.

BAT had closed yesterday at year low Ksh 650 per share almost like end point to downwards trend over time, but hit day high of Ksh 710 before closing at Ksh 703 per share, up Ksh 53 per share or by 8.15%.

Its year high remains Ksh 920 and it does not look likely to touch that before the register is closed on Friday March 16 to determine those entitled to the proposed dividend.

The leap came almost from the blues because BAT closed yesterday Ksh 1 per down even as Safaricom helped drive the All share index upwards by 1.49 points to 182.74.

Today, with Safaricom closing firm and 16 price gains and 19 drops being recorded, BAT more or less drive the ASI further into new high of 183.67, up 0.83 points.

BAT also witnessed top traded value in the Manufacturing and Allied sector as it recorded deals for 56,400 units worth Ksh 39.6m compared to Ksh 27m worth chipped in by East African Breweries as 113,400 shares changed hands.

However, Standard Chartered bank top price drops with Ksh 7 per share decline. From yesterday's Ksh 217, SCB had at first slipped to Ksh 211 then further to close at Ksh 210 per share.

For the third day running though, the banks dominated trading this time contributing Ksh 617m or 63% of Ksh 980.3m traded value itself an improvement on yesterday's Ksh 944.87m.

Equity Group, up Ksh 1.25 per share, paced both market and sector with deals for 7.2m shares worth Ksh 365m followed in the sector by KCB Group, up 3% after touching year high, with 2.68m shares changing hands for Ksh 138m and above 1m shares deals in. NIC Group (1.79m shares) and Barclay's bank (1.736m units).

Safaricom closed with deals for 5.99m shares worth Ksh 178m or 18.19% at between Ksh 29.50 and 30 per share.

It was in the energy and petroleum sector that the duo of Kenol Kobil and Kenya Power and Lighting recorded deals for above 1m units too. Ken Kobil, down Ksh 0.05 per share, witnessed deals for 3.464m shares worth Ksh 58.5m at between Ksh 16.35 and 16.95 per share while K Power, down 0.64%,  closed with deals for 1.575m shares worth Ksh 12m.

The bond market recovered slightly to end the day with Ksh 3.25bn traded value in 68 deals compared to Ksh 2bn from 90 deals yesterday.

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