JAN 18. 2019: NAIROBI: BULLISH BANKING ENDS WEEK.

The week ended Friday January  18 2019 was one in which the Nairobi  Securities  Exchange  closed up daily crowned with somewhat bullish banking on Friday. 

During the week daily upwards closing including 0.26 points rise on Friday  had driven the All share index up 2.66 points or 1.87% to 145.27 from previous  week's closing 142.61 

The Friday slight increase was despite a drop in the price of Safaricom,  the top equity by market capitalisation  and more a product of bullish run in the banking sector. 

Of the 10 price changes  recorded  in the sector,  9 was upwards and only one was down.  The lone ranger,  Standard Chartered  Bank  shed Ksh  0.50 per share compared  to sector pacing Ksh 3.75 per share  gain  by Diamond  Trust Bank,  Ksh 3.50 per share  top up by Stanbic Holdings  and Ksh 1.25 per share rise by Equity Group. 

In all,  on Friday there were 18 price gains and 16 drops with the gainers led by BOC Kenya with Ksh 5.25 per share rise to Ksh 80 from Thursday 's Ksh 74.75 per share.  There were no other major price gains except  the banking sector ones  earlier mentioned and Ksh 1.50 per share gain by Century Investment. 

On the other hand,  Kakuzi,  in the agricultural sector,  paced price drops  with Ksh 4.75 per share as it found  and closed  at Ksh 310 per share compared  to Ksh 314.75 previously. 

Kakuzi  was trailed by Bamburi  Cement  with Ksh 1.50 per share decline,  and the pair of Jubilee  Holdings  and East African Breweries down Ksh 1 per share  each. 

Trading activities  also pepped up on Friday as 1046 deals were struck  for 33.822m shares valued  at Ksh 893.146m as against  1145 deals involving 19.791m shares worth  Ksh 494.593m on Thursday. 

In the end,  all week trade came to 132m shares exchanged  for Ksh 3.5bn compared to the previous  week's  97m shares worth  Ksh 2.2bn.

The most active remained Safaricom  in which 91m shares were traded  for Ksh 2.1bn at between  Ksh 23.25 and 24.30 per share  with Friday alone accounting for 28m shares. 

The closest to that was KCB Group 's 10.6m shares traded for Ksh397m at between Ksh 36.05 and 40.95 per share although  only 588,700 units were traded  in Friday. 

East African Breweries  did not come close in volume  terms but in value as 2.1m of its shares went for Ksh 360m within the week at between  Ksh 163 and 171 per share. 

It was at the bond market  there was a slow down of sorts as all week traded value  came to Ksh 7.6bn compared  to Ksh 9.98bn previously. 




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