DEC 7, 2018: AH, 5 DAY DECLINE AT NAIROBI SECURITIES EXCHANGE

Alas, hopes for reverse of daily price drop since Monday on Friday fizzled out as the All share index at Nairobi Securities Exchange closed down more resoundingly by 1.60 points to 144.05.

It had started the week and month down 1.95 points on Monday then eased by rather mild 0.03 points each on Tuesday and Wednesday before losing 0.81 points on Thursday.

This time, the decline occurred despite equal number of price changes down or up (18) but because British American Tobacco top tumble was assisted by other major drops and  Safaricom.

BAT tumbled by Ksh 60 per share while only 200 units of its shares were traded. It hit a new year low of Ksh 540 per share after slipping firstly to Ksh 541 from previous day's Ksh 600 per share.

BAT so far hit highest price of Ksh 550 per share and until this Friday was at its lowest price of Ksh 520 per share.

Support downwards came from other major price drops like East African Breweries Ksh 4.25 per share decline while recording deals for 434,200 shares, its highest since the week; Sanlam ltd down Ksh 2.35 per share; Total Kenya with Ksh 1.50 per share drop and Ksh 1 per share shed by Bamburi Cement.

On the other hand top gain was NIC Group's Ksh 7.35 per share as it closed at Ksh 30 per share after hitting day high of Ksh 33 and low of Ksh 24.5 per share compared to Ksh 22.65 per share. A total of 591,00 of its shares were traded.

Others were Diamond Trust Bank's Ksh 4.50 per share rise and from a distance, Ksh 0.90 per share gain by TPS Eastern.

Traded volume recovered strongly to 18.703n shares after daily slide was reversed barely on Thursday at 8.439m shares.

This pushed traded value to Ksh 526.189m from Thursday's Ksh 192.111m while number of deals closed up at 1103 from 1073, the kind of change of baton at the level had been rare for a while.

Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more