MAY 29, 2018: RARE TRADE DAY AT NAIROBI STOCK MARKET

More or less, it was rare trade day of sorts at the Nairobi Securities Exchange as many equities rarely traded for a while now recorded deals and some usually traded closed with higher volumes.

However, this did not drive traded volume upwards because some usually very active equities witnessed relatively low trade.  Traded volume came to 27.167m shares compared to 34.55m on Monday and 41.84m on Friday.

The beauty was in the number of rare trades on the roll call. Leading rare trades were deals for 2.99m shares recorded in WPP Scan Group at between Ksh 17 and 18.20 per share worth Ksh 50.8m.

WPP ended down Ksh 0.15 per share though as it hit day high of Ksh 18.2 then low of Ksh 17 where it closed as against Ksh 17.15 per share on Monday.

Other rare trades were recorded in Sameer Africa (947,400 units sold); Express Kenya in which 197,000 shared changed hands; Sasini which used to be very active and recorded deals for 41,400 units , Unga Group with deals for 157,700 shares and Crown Paints with 20_400 units sold.

Those with higher trade were ARM Cement, up 5.28% per share, with deals for 3.552m shares worth Ksh 9.6m and Equity Group with leading 9.905m shares traded at between Ksh 48 and 49 per share worth Ksh 485m.

It was another somewhat bearish day though as the All share index dropped just like yesterday by 0.64 points to 174.09 amidst 21 price drops and 14 gains.

The market was however more bearish towards agricultural sector and the commercial and allied sector but rather bullish towards the insurance sector.

Top gain was British American Tobacco's Ksh 47 per share leap as it recorded deals for just 10,100 shares. In the process, BAT hit day high of Ksh 660 per share and a low of Ksh 565 before closing at Ksh 647 per share compared to Ksh 600 on Monday.

Jubilee Holdings, paced the bullish insurance sector with Ksh 10 per share increase as it found and closed at Ksh 500 as against Ksh 490 per share previously.

Leading the price losers was Limuru Tea which slipped by Ksh 20 per  share to Ksh 500 per share from Ksh 520 while recording low trade.

Other major losers were Standard Chartered Bank, down Ksh 8 per share, Diamond Trust Bank  with Ksh 4 per share decline and Safaricom, for its impact on the ASI, with Ksh 0.25 per share drop.

Trading at the bond market recovered strongly with traded value coming to Ksh 4.14bn in 48 deals compared to Ksh 2.94bn in 63 deals on Monday.

No deals though in corporate bonds and sell or buy back and traded value was dominated by 4 fixed income government bonds of above Ksh 50m nominal value.

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