MAY 11, 2018: VOLUME DOWN, VALUE UP AT NAIROBI SE

Traded volume at the Nairobi Securities Exchange dropped by 21.5% to 18.48m shares on May 11, 2018 without bringing down traded value which instead rose by 16% to Ksh 873.2m.

However, number of deals dropped by 20.1% to 1280 from 1603.

The main reason for volume and value dancing out of tune was relatively more deals struck in middle and high priced equities.

For example, Stanbic Holdings in the banking sector ended the whole week with deals for 2.2m shares worth Ksh201m out of which 2.09m changed hands on Friday, May 11.

British American Tobacco recorded deals for 122,000 shares worth Ksh 74m out of which 96,600 units were dealt in on Friday.

However, it was also a day when BAT dived by some 7.69% or Ksh 30 per share as it closed at new low of Ksh 600 per share.

This was the leading price drop for the day but another major decline was recorded in Kakuzi Ltd as it hit day high of Ksh 355 per share and low of Ksh 350 before closing at Ksh 354 per share compared to previous day's Ksh 370 per share.

In addition, Williamson Tea went down Ksh 4 per share and both Bamburi Cement and Nation Media Group lost Ksh 3 per share.

Hence, it was not surprising that the All share index declined by 1.51 points to 176.74 which turns out to be the bulk of the all week 2.62 points drop.

Safaricom contributed to the Friday ASI decline by closing down Ksh 0.25 per share but it had limited impact on the day's trade as it recorded deals for only 6.723m shares.

However, through the week it ended with deals 64m shares valued at Ksh 1.8bn or 38.18% of the market's total traded value (Ksh 4.7bn).

The banking sector through the week was just barely trailed Safaricom with total Ksh 1.4bn traded value or 29.83%.

Equity Group led the sector with deals for 2.29m shares though this was just a fraction of its total all week deals for 9.9m shares worth Ksh 509m at between Ksh 51 and 52 per share.

KCB Group, up 4.71% within the week had deals for 2.296m shares on May 11 which was almost 50% of its weeklong 5.9m shares exchanged for Ksh 297m.

Daily improvement through the week finally paid off at the bond market as it ended with all week Ksh 13bn traded value compared to only Ksh 7.7bn previously.

May 11 2018 had closed with its own improved version of Ksh 3.07bn traded value in 51 deals compared to Ksh 2.63bn in 65 deals the previous day.

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