JAN 24, 2019: NAIROBI: RARE DEALS IN BRITISH AMERICAN TOBACCO

British American Tobacco traded in a rare way at Nairobi Securities Exchange on Thursday January 24, 2019 but only succeeded in impacting very well on traded value.

The day's traded value came to Ksh 1.167bn from exchange of 13.727m shares compared to just N215.209m for Ksh 7.517m. In other words, traded value rose by more than 5 times while volume did not even double.

Reason? BAT recorded rare offload of 1.211m shares and being a high valued equity, this fetched Ksh 792m or 67.88% of the day's traded value.

Yet BAT had tumbled by Ksh 22 per share as it hit day high of Ksh 649 per share and low of Ksh 610 before closing at Ksh 648 per share compared to Ksh 670 previously.

Though quite a tumble, it could not drag the All share index down even with Safaricom's own Ksh 0.05 per share decline, because there were only 10 price drops as against 24 gains. 

Besides, BAT was more or less on a solo run as closest on its trail was TPS Eastern with Ksh 1 per share drop.

Whereas, price gain was paced by I & M Holdings and followed by 4 other major gains of Ksh 1 per share or above 

I&M found and closed at Ksh 100 per share up Ksh 5.75 on Ksh 94.25 per share on Wednesday.

It was followed by Sanlam ltd with Ksh 2.30 per share increase, Ken Gen and East African Breweries up Ksh 2 per share each and Williamson Tea which topped up Ksh 1 per share.

The banking sector did chip in Ksh 267m traded value though or 22.96% led by Equity Group's 3.123m shares worth Ksh 124m traded at between Ksh 39 and 41 per share, KCB Group with deals for 2.58m shares valued at Ksh 103m and Diamond Trust Bank in which 168,400 shares changed hands for Ksh 25m while closing up Ksh 0.75 per share.

Of course also Safaricom witnessed noteworthy trade but this time 4.049m of its shares were traded at between Ksh 23.05 and 23.40 per share for total value of Ksh 94m.

At the bond market, traded value dropped further to Ksh 1.2bn from Wednesday equally low Ksh 1.3bn.

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