JAN 25, 2019: NAIROBI: SHOT IN THE ARM

The rare trade in British American Tobacco recorded on Thursday at the Nairobi stock market has turned out to be a shot in the arm of traded value for the full week.

According to figures obtained from the Nairobi Securities Exchange compared to previous week when 132m shares were traded for Ksh 3.5bn, in the week to Friday, January 25, only 88m shsres were traded for Ksh 3.3bn.

Friday trade had recovered to 25.670m shares compared to 13.127m on Thursday but traded value was Ksh 756.156m far less than the Ksh 1.147bn recorded previously..

After closing firm strangely on Wednesday, the All share index had risen by just 0.06 points on Thursday and then by 1.18 points on Friday to finally close the week at 146.48. This represents 1.21 points up on previous week's closing level.

The Friday leap was in spite of almost equal number of price gains (17) and drops (16).

The gainers were led by East African Breweries which ended up by shopping Ksh 13.50 per share. EAB hit its day high of Ksh 190 per share, and low of Ksh 180 before closing at Ksh 186.50 per share compared to Ksh 173 previously 

It was followed by Ksh 2 per share rise by Nation Media and supported more decidedly by Safaricom with Ksh 0.25 per share gain.

In the other hand, I&M Holdings paced price drops with Ksh 5 per share decline as it found and closed at Ksh 95 per share as against Ksh 100 previously.

Top trade during the week was as usual recorded by Safaricom in which 45.8m shares were traded for Ksh 1bn with Friday accounting for 14.283m shares exchanged.

BAT ended the week with Ksh 853m traded value from exchange of 1.3m of its shares at between Ksh 610 and 670 per share.

Other major traded valued during the week were Ksh 571m in KCB Group as its 14m shares were traded at between Ksh 39.15 and 41.50 per share and Equity Group's Ksh 435m realised from exchange of 10.8m of its shares.

At the bond market,  traded value for thw week rose to Ksh 10.6bn from previous week's Ksh 7.6bn.

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