MAR 2, 2018: BAT, KAKUZI TUG AT NAIROBI SECURITIES EXCHANGE

It was more or less a tug of war today March 2, at Nairobi Stock Market between British American Tobacco and Kakuzi ltd to determine direction for the All share index and BAT won, barely.

The ASI closed the day down 0.73points at 181.26 as British American Tobacco found and closed at Ksh 700 per share, down Ksh 69 on Thursday's Ksh 769 per share.

Kakuzi, on the other hand took a leap to Ksh 390 per share, up Ksh 35 per share but failed push the ASI upwards.

It was a close call because  there were equal number of price gains and drops (18).

Major declines that helped BAT win the tug of war were Kapchorua Tea in the same agriculture sector with Kakuzi, down Ksh 2 per share and Nation Media

It also certainly helped that weighty Safaricom closed down by Ksh 0.25 per share.


On the other hand, some high priced equities lined up behind Kakuzi led by Standard Chartered Bank, up Ksh 3 per share; I &M Holdings with Ksh 2 per share increase and Ksh 1 per share top up each by Stanbic Holdings; and Bamburi Cement.

Of course, today marked the end of week 9 in 2018 and it turned out to be quite an improvement on week 8 in terms of both traded volume and value.

In all, 242m shares were traded worth Ksh 5.7bn compared to 113m shares worth Ksh 4.5bn previously.

Interestingly, no clear pace setters in week 9. Safaricom as the lone equity in the telecommunications sector, the banking sector and Energy and Petroleum sector breasted the week so close in terms of traded value with Energy and Petroleum cutting the tape with Ksh 1.7bn as against Ksh 1.6bn by both Safaricom and Banking sector.

Indeed, Ken Kobil alone in the energy and petroleum sector chipped in Ksh 1.6bn traded value as record 101m of its shares changed hands within the week at between Ksh 15.50 and 16.75 per share.

Leading traded volume today was witnessed as very rare 16.09m shares of ARM were offloaded for Ksh 182m at between Ksh 11.05 and 11.90 per share. 

Only two other equities recorded deals for above 1m units: Safaricom with deals for 6.18m shares and Equity Group in which 2.317m shares changed hands to push its all week traded value to Ksh 624m.

The bond market in week 9 was relatively on the low side compared to week 8. Traded value came to Ksh 10.4bn as against Ksh 16.4bn in week 8.

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