JAN 16, 2019: NAIROBI: UPSWING CONTINUES

The Nairobi  Securities Exchange  is still driven by bullish expectations as it closed Wednesday  January  16, 2019 on the upswing like recent days. 

On Tuesday,  the All share  index had grown by 0.42 points only for Wednesday  to follow  up with 1.23 points  rise to 144.76.

And for good reason.  The number of price gains at 29 was not only far above price losers (17) but the margins were higher  too. 

Top price gains were recorded  in the Agricultural  sector led by Kapchorua Tea with Ksh 5.25 per share  top up followed by Ksh 4.75 per share gain by Kakuzi Limited.

Other major  gains  were Ksh 3.50 per share  by Jubilee  Holdings in the insurance  sector  and Standard  Chartered Bank  in the banking sector. 

Stanbic Holdings  also in the same banking sector closed up Ksh  1.50 per share to round up top price gainers. 

It helped too that Safaricom  ended the day up Ksh 0.30 per share up. 

Amongst price drops,  the lead was maintained by the duo  of BOC Kenya  and British  American Tobacco  with Ksh 5 per share  decline each. 

They were  trailed by I& M Holdings in the banking sector  with Ksh  4 per share drop and Agricultural sector's Williamson  Tea which shed Ksh 1 per share. Every other price drops or  gain was below Ksh 1 per share. 

Traded volume  however trended down dragging  traded value  and number of deals along.  In all there were 997 deals for 23.324m shares worth  Ksh 607.858m compared to 1117 deals struck on Tuesday  involving  29.930m shares worth  Ksh 850.409m.

Safaricom  retained lead in trade by witnessing  deals for 14.056m shares worth Ksh 334m or 55,06 % at between  Ksh 23.70 and 24.30 per share. 

The banking  sector  accounted for Ksh 100m or 16.61% led by KCB Group  in which deals were struck  for 2.491m shares worth  Ksh 93m at between  Ksh 36.40 and 37.90 per share. 

Bamburi  Cement too was a major contributor  to traded value as it ended with exchange  of 437,300 units for Ksh 56.0m at between  Ksh 129 and 132  per share. 

The bond market improved slightly  with traded value at Ksh 2.1bn compared to Ksh 1.6bn the previous day. 


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