DEC 4, 2018: BOND MARKET REGIG AT NAIROBI SECURITIES EXCHANGE

The bond market at Nairobi stock market ended Tuesday December 4 2018 with new normal: Dominance of trade in stocks with less than Ksh 50m nominal value over those with above this figure.

In all, only four stocks with nominal value above Ksh50m closed with deals while 12 below Ksh 50m nominal value recorded trades.

The norm all these months has been the reverse with corporate bonds and sell or buy back chipping in intermittently.

In the end a total of Ksh 1.05bn worth was traded in the market through 39 deals compared to Ksh 1.314bn in 56 deals on Monday. Of this sell or buy was responsible for Ksh 200m worth and government stock issued October 2018 and due 2033 topped with Ksh 400m.

At the equity segment, the All share index dropped marginally by 0.03points to 146.49  as 21 price drops and 18 gains were recorded.

Lead gain was by East African Breweries, up Ksh 2.75 per share, as it closed the day at Ksh 196.50 per share after hitting day high of Ksh 199 and low of Ksh 194.75 per share compared to Ksh 144.50 previously.

Other major price gainers were Kapchorua Tea, up Ksh 2 per share; I&M Holdings with Ksh 1.25 per share gain just like Jubilee Holdings up Ksh 1.25 per share as well and Liberty with Ksh 1.10 per share gain.

Williamson Tea paced losers with Ksh 2.75 per share as well after touching day high of Ksh 143; low of Ksh 140 before closing at Ksh 141.75 as against Ksh 144.50 previously.

Monday's traded volume at 9.32m shares was rather on the low side but on Tuesday, it dropped further to 9.021m shares traded in 994 deals worth Ksh229.249m.

Safaricom alone accounted for 3.48m shares exchanged for Ksh 82.4m or 35.04% of total traded value at between Ksh 23.50 and 23.75 per share.

In the banking sector, KCB Group led the sector to contribute Ksh 99.5m or 43.38% of total traded value while recording deals for 1.28m shares worth Ksh 51.2m.

Kenya Reinsurance also recorded above 1m volume with deals involving 1.055m shares worth Ksh 14.7m while closing Ksh 0.02 or 0.4% per share down.

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