MAR 7, 2018: BANKS, SAFARICOM DRIVE ASI UP AT NAIROBI SE

Today the Nairobi Securities exchange was more bullish especially in its outlook on banks, Safaricom and energy equities leading to strong 1.14 points rise in the All share index to 182.16.

At the banking and energy and petroleum sectors all price changes recorded were positive and added to Ksh 0.25 per share rise in the price of Safaricom, this made a lot of difference.

In all 20 price gains were recorded compared to 14 drops. Out of the gainers, 6 were from the banking sector led by Ksh 1 per share rise by Diamond Trust Bank and Equity Group followed by Ksh 0.75 per share gained by NIC bank; Ksh 0.50 up by KCB group; Ksh 0.15 and 0.05 per share increase by Cooperative bank and National bank respectively.

At the energy and petroleum sector, none of the gains were up to Ksh 1 per share with Kenol Kobil pacing with Ksh 0.20 per share; trailed by Ken Gen up Ksh 0.10 per share and Ksh 0.05 per share each by Kenya Power and Uganda based Umeme.

Top gain, however was by Nation Media up Ksh 3 per share followed by Nairobi Securities exchange up Ksh 1.75 per share as it witnessed for the second time this year, deals for above 1m shares.

The NSE closed the day with 1.15m of its shares changing hands for Ksh 26m as it gained 8.75%.

The price drops were fewer but again, more pronounced as Btitish American Tobacco continued downwards with Ksh 9 per share drop and Kenya Orchards surfaced to close Ksh 8 per share down.

For BAT it was a long drawn process as it hit day high of Ksh 680 per share, and low of Ksh 670 before closing at Ksh 674 per share compared to yesterday's Ksh 683 per share.

Not so for Kenya Orchards which simply found Ksh 82 per share and closed there as against Ksh 90 per share previously.

Trading recovered well as traded volume rose to 26.06m shares from 19.4m, traded value hit Ksh 916.75m compared to Ksh 838.05m yesterday and number of deals increased further to 1530 from yesterday's equally improved 1406.

The banks paced both volume and value led by KCB Group, which within the dat touched new 12 month high, with deals for 6.26m shares worth Ksh 309m.

Equity Group too, in the same sector, touched year high briefly, as it witnessed deals for 2.125m worth Ksh 101.6m while NIC group chipped in Ksh 71m worth of deals for 1.876m shares as it closed 2.01% up.

Other major trades in the banking sector include deals for 1.88m shares in Cooperative bank; 661,400 shares of Barclay's bank and for Diamond Trust Bank's 225,500 units.

Safaricom closed with deals for 5.82m shares worth Ksh 171m at between Ksh 29.25 and 29.75 per share; and Kenol Kobil recorded deals for 2.31m shares worth Ksh 38.6m as it rose by 1.21%.

At the bond market, however, traded value came to only Ksh 1.8bn.

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