MAR 27, 2019: NAIROBI: BOND BOUNCES

The bond market at the Nairobi Securities Exchange bounced back to reckoning on Wednesday March 27 with traded value doubling even as the equity segment shrank all round 

There were 101 deals in bonds worth Ksh 5.15 bn compared to 94 deals on Tuesday worth only Ksh 2.68bn.

As usual there were no deals in corporate bonds and under sell or buy back hence the rush was more for fixed income bonds with above Ksh 50m nominal value.

It was indeed a rash of deals in this category with 22 bonds recorded trade and 3 of them pacing with Ksh 500m worth each 

Below Ksh50m nominal value stocks were active too as 18 recorded deals with top being one for Ksh 28m.

The equity segment continued to slide although at a slower pace compared to Tuesday's top decline. The All share index here closed down 1.07points to 156.30 compared to Tuesday when it shed 1.70 points.

There were still bold and sharp price changes though down and up with Limuru Tea shedding Ksh 30 per share as it found and closed at Ksh 550 compared to Ksh 580 per share on Tuesday to lead 21 price drops.

On its trail were Standard Group down Ksh 2.30 per share; Equity Group Holdings with N1.90 per share decline; Car and General which shed Ksh 1.50 per share and Nation Media's Ksh 1 per share drop.

A total of 16 price gains were recorded led by I & M Holdings with a Ksh 12 per share leap to close at Ksh 106 per share after touching day high of Ksh 110 and low of Ksh 98 per share compared to Ksh 94 per share on Tuesday.

Also noteworthy was British American Tobacco's Ksh 7 per share climb to Ksh 545 per share as against Ksh 538 on Tuesday.

The market also shrunk in trading activities during the day with 969 deals being struck for 16.007m shares worth Ksh 517.611m compared to 1087 deals through which 26.699m shares changed hands for Ksh 631.241m.

Once again, virtually every sector of the market dried up except Telecommunications where Safaricom remains sole listed equity, banking and Manufacturing where East African Breweries recorded more trade compared to Tuesday level.

Safaricom accounted for 44.82% of the day's traded value as 8.522m of its shares were exchanged for Ksh 232m at between Ksh 26.95 and 27.75 per share while closing Ksh 0.35 per share down.

At the banking sector, Ksh 226m or 43.73% traded value was recorded led by Equity Group with deals for 3.198m shares worth Ksh 129m at between Ksh 40 and 42.20 per share.

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