MAR 22, 2019: NAIROBI: STANDARD CHARTERED UP 8.63%

Sequel to the announcement of proposed Ksh 14 per final dividend on Friday March 22, 2019; Stands Chartered Bank's share price jumped by 8.63% or Ksh 17.25 per share.

It closed the day at Ksh 217.25 per share after touching day high of Ksh 220 and low of  Ksh 202 per share.

This was while recording deals for the exchange of 26,900 shares. However, in spite of the price leap, SCB is still very much far from its year high of Ksh 243 per share and low of Ksh 165.

It ended up leading 17 other price gains  including Ksh 2.25 per share rise by Nation Media and Ksh 1 per share top up by Kenya Airways.

Despite this though, the All share index dropped to 160.0 which represented 1.93 points or 1.22% increase on a week ago.

The Friday ASI decline was the 2nd within the week following Ksh 1.22 points drop on Tuesday.  The rest of the week recorded fairly strong growth led by Monday's 2.08 points rally followed by 1.32 points more on Wednesday.

There were 25 price drops on Friday paced by Limuru Tea as it shed Ksh 3 per share while closing at Ksh 580 per share compared to Ksh 583 on previous day.

The only other major price drop was Stanbic Holdings Ksh 1.50 per share but of course, it was noteworthy that Safaricom closed down Ksh 0.50 per share to add more pressure on the ASI.

All week traded volume and value came to 121m shares traded for Ksh 3.4bn compared to 110m shares worth Ksh 3 bn the previous week

Safaricom paced both indicators with total of 50m of its shares worth Ksh 1.4bn at between Ksh 27.50 and 30 per share. Of that, 6.937m were exchanged on Friday

The banking sector accounted Ksh 1.5bn or 43.5% of the week's total traded value as KCB Group led with 12.8m shares exchanged for Ksh 577m at between Ksh 44 and 48 per share. Of this, 1.083m were traded on Friday.

Close by was Equity Group, up 1.16% for the week, with total traded value of Ksh 532m and Diamond Trust bank in which 833000 shares were exchanged for Ksh 115m.

On Friday, Barclay's Bank recorded deals for sector leading 3.919m shares and Cooperative Bank chipped in 1.209m shares but
Henates could not estimate how much investors realised from trading in their shares through the week.

At the manufacturing sector, as usual East African Breweries was active through the week leading to 1m shares worth Ksh 223m being traded at between Ksh 192.25 and 200 per share.

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