MAR 25, 2019: NAIROBI: VOLUME UP BUT ....

Traded volume recovered well at the Nairobi Securities Exchange on Monday March 25, 2019 but principally on the back of number of shares in Safaricom.

Most sectors were dry as 30.553m shares were traded in 1090 deals worth Ksh 865.359m as against 18.687m shares in 839 deals valued at Ksh 523.657m.

Of this, Safaricom was responsible for 22.976m shares exchanged for Ksh 643m or 74.29% of total value at between Ksh 27.50 and 28.20 per share.

Only the banking sector came up with any other noteworthy trade. It accounted for Ksh 205m or 23.77% of the total traded value.

The sector was paced by Equity Group with Ksh 70.9m realised from 1.653m shares traded at between Ksh 42.50 and 43.50 per share followed by KCB Group in which 1.451m shares were exchanged for Ksh 64m and Cooperative Bank, down 1.29%, as 2.24m shares were exchanged for Ksh 34m.

The market shrunk though as the All share index dropped by 0.93 points to 159.07 as 39 price changes occurred; 28 downwards.

Indeed, going by the number of major price drops compared to gains, it is even a bit surprising that the ASI went down only by that margin.

The decline was paced by Diamond Trust Bank as it shed Ksh 4.75 per share to close at Ksh 130.75 after touching day high of Ksh 136 per share and low of Ksh 129 compared to Ksh 135.50 per share on Friday. This was while 27,900 of its shares were traded.

Other price drops include Ksh 3.50 per share by Crown Paints; Ksh 3 per share by Williamson Tea and Ksh 2.20 per share decline by Sasini plc.

Also major were Ksh 1.75 per share decline by Nation Media and Bamburi Cement's Ksh 1.50 per share drop.

There was only one major price gain: Standard Chartered Bank's Ksh 2.75 per share rise to Ksh 220 per share from Friday's Ksh 217.25 per share.

At the bond market, all sectors closed active as 81 deals worth Ksh 3.027bn were struck compared to 106 deals worth Ksh 2.2bn on Friday.

One stock each recorded trade amongst corporate bonds and Sell or buy back worth Ksh 9m and 350m respectively. However, as usual fixed stocks with above Ksh 50m nominal value recorded more deals.


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