MAR 9, 2018: KAKUZI TUMBLES AT NAIROBI SECURITIES EXCHANGE

Today Friday March 9, 2018 week 9 ended with Kakuzi ltd tumbling by Ksh 20 per share to close at Ksh 360 thus helping to bring the All share index down by 0.67 points to 180.60.

The last time Kakuzi declined that much was on February 21 when it closed Ksh 35 per share down at Ksh 355 per share but that exactly the amount it gained earlier on February 19 to close at new year high of Ksh 390 per share.

Today, closing at Ksh 360 per share from yesterday's Ksh 380, was rather easy as it found and closed there in one go.

Kakuzi thus led 24 price drops today from a distance as it was followed by still declining Jubilee Holdings. Jubilee closed once again down Ksh 9 per share but not easily as Kakuzi found its weekend level.

Jubilee hit day high of Ksh 520 per share and a low of Ksh 506 before closing at N513 per share compared to Ksh 522 per share yesterday.

Other major price drops include Ksh 3 per share decline by BOC Kenya; Ksh 2.50 per share drop by rarely traded Car and General and Ksh 1 per share easing by East African Breweries and Nation Media.

However, the most impactful on ASI % decline could be Ksh 0.25 per share decline by Safaricom as it recorded deals for 18.67m shares to bring its all week traded volume to 46.8m shares valued at Ksh 1.3bn or 29.46% of week 9's traded value.

Safaricom hit day high of Ksh 29.75 per share and low of Ksh 29 before settling at Ksh 29.25 per share compared to Ksh 29.50 previously.

The day's 17 price gainers were paced by Standard Chartered bank this time around though, not while riding crest of banking bullish sentiment.

Of the 8 banks with price changes this day, 4 apiece closed up and down: SCB, HF Group, KCB group and Cooperative bank closed up while Barclay's bank; National bank, NIC group and Stanbic Holdings eased.

Trading in week 9 ended short of week 8 levels as traded volume came to 149m shares worth Ksh 4.6bn compared to 242m shares valued at Ksh 5.7bn previously.

SCB hit day high of Ksh 212 per share, and low of Ksh 205 before closing at Ksh 209 compared to Ksh 206 per share yesterday.

Other major price gainers were Eaagads ltd, Williamson Tea and Bamburi Cement with Ksh 1 per share gain each.

Banking contributed the most to traded value with Ksh 2bn worth of deals or 43.23% of total traded value for the week led by Equity Group with deals worth Ksh 774m (part of that was for 1.349m shares today); followed by KCB group with Ksh 650m and Diamond Trust bank's Ksh 243m as 1.6m shares changed hands through the week

At the bond market, daily edging upwards paid off after all as week 9 closed with Ksh 11.4bn traded value as against Ksh 10.4bn in week 8.


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