MAY 14, 2018: AGAIN DEALS UP, TRADE DOWN AT NAIROBI SE

It used to be rare but since October last year, it had been a more common phenomenon thus reflecting higher investors interest in the market.

At the Nairobi Securities Exchange once again Monday May 14 2018, trade declined but number of deals struck rose.

Traded volume dropped by 28.7% to 13.18m shares, traded value declined faster by 46.4% to Ksh 468.46m but these involved 1366 deals, up 6.72%.
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On April 6 this year, the same thing had happened as volume dropped by 26.3% to 16.25m shares, value went down by 22.2% to Ksh 519.3m while number of deals at 1474, was up 3.66%.

It had earlier occurred on March 6, 16 and 20 after starting to really occur much in October and November last year.

Normally, number of deals reflect investors interest and it drops or increases out of step with trade when investors scramble for rare or highly valued equities.

On Monday rather rare volumes were traded in British American Tobacco (102,300 units worth Ksh 61m at between Ksh 600 and 630 per share); Stanbic Holdings (132,000 units); Jubilee Holdings in which 44,800 shares changed hands between posts 530 and 535 per share  and Bamburi Cement which witnessed deals for 36,100 shares.

Lead trade was however recorded in Safaricom as deals were struck for 6m shares at between Ksh 27 and 28 per share worth Ksh 169m or 34.92% of market total.

Only two their companies witnessed above 1m shares trade: Ken Kobil in the energy and petroleum sector traded at Ksh 19.2 and 19.50 per share 2.12m shares valued at Ksh 41m and Cooperative Bank recorded deals for 1.41m units worth Ksh 26m while easing by Ksh 0.25 per share.

In all there were 20 price drops and 15 gains with the All share index easing by 1.40 points to 175.34.

Crown Paints and Williamson Tea paced gainers and losers respectively with Ksh 4 per share drop each and Safaricom's Ksh 0.50 decline to Ksh 27.25 per share helped tilt the ASI scale.

For the 5th day running, the bond market inched upwards as traded value stood at Ksh 3.15bn in 54 deals as against Ksh 3.0bn involving 51 deals last Friday.

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