JAN 28, 2018: NAIROBI: UP AGAIN BUT HOW?

On Monday January 28 2018, the All share index at the Nairobi Securities Exchange once again closed up but this time around there was a hanging question: How?

The ASI closed up by 0.72 points to 147.20 after Friday's relatively very strong rally but this Kenyan Shillings margin of drops were higher and more equities also went down.

There were 19 price drops and 16 gains with East African Breweries being the only one with above Ksh 1 per share gain. 

After hitting its day high of Ksh 200 per share EAB closed at Ksh 198.50 after a low of Ksh 190 per share. It thus gained Ksh 11.75  per share when compared to Ksh 185.50 on Friday.

Apparently it was on the back of this that the marginal gain for the ASI occurred. If not downwards, the pace was set by Diamond Trust Bank with Ksh 4 per share decline as it found and closed at Ksh 146 per share compared to Ksh 150 on Friday.

It had some major company. Stanbic Holdings trailed with Ksh 2 per share decline, followed by East African Portland down Ksh 1.50 per share ; I&M Holdings with Ksh 1.25 per share decline and Ksh 1 per share easing by the pair of Centum Investments and Nation Media.

Crowded but not enough to counter the EAB pull upwards on the ASI aided by the likes of Ksh 0.85 per share increase by Car & General and Standard Chartered Bank with Ksh 0.50 per share rise.

Traded volume recovered to 31.340m from 25.670m on Friday but both number of deals and traded value failed to follow in tow. The number of deals struck came to 993 valued at Ksh 731.835m compared to 1042 deals worth Ksh 756.158m previously.

Safaricom and the banks accounted for most of both volume and value. Deals for 23.035m shares were struck in safaricom for Ksh 540.8m or 73.89% of total value at between Ksh 23.35 and 23.75 per share.

The banks on the other hand, chipped in Ksh 141m or 19.38% of traded value with KCB Group leading with Ksh 79.7m value for 1.999m shsres traded; followed by Barclay's Bank, up 1.32%, with deals for 2.705m shares worth Ksh 31m and Cooperative Bank in which 1.129m shares changed hands for Ksh 17m.

Trading pepped up at the bond market as it closed with 59 deals for Ksh 2.309bn worth compared to Ksh 1.787bn in 37 deals on Friday.

After a long spell, 3 corporate bonds recorded deals ranging from Ksh 1.2m; 1.5m  and 1.7m.

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