APRIL 17, 2019: BACK TO TRICKLES AT NAIROBI SECURITIES EXCHANGE

After raising hopes for more above average number of deals on Tuesday, April 16, the Nairobi Securities Exchange closed Wednesday April 17 back in below average deals.

It recorded only 820 deals compared to 1050 on Tuesday which was more of a relief from 9 continuous days of closing below 1000 deals up to Monday.

Besides, the low deals were struck for the exchange of equally lowly 5.517m shares for Ksh 273.807m compared to 11.451m shares traded on Tuesday for Ksh 290.348m.

Virtually every sector was relatively dry although traded value was boosted by deals recorded in Diamond Trust Bank; East African Breweries Stanbic Holdings and Jubilee Holdings.

DTB witnessed rare 993,200 shares traded at between Ksh 123 and 125 per share for a total worth of Ksh 124m. It thus contributed the bulk of the Ksh 173m traded value or 63.37% of market total recorded by the banking sector.

In the same sector, Stanbic Holdings also recorded rare exchange of 78,300 of its shares for Ksh 7.9m while closing 5.47% up.

This was alongside KCB Group's 687,200 shares traded for Ksh 30.9m and Cooperative Bank's 196,000 units also exchanged.

After a surprising day of Tuesday with very low traded volume, East African Breweries on Wednesday recorded deals for 90,100 shares worth Ksh 13m while closing 1.66% up. It also accounted for the Ksh 19.5m  traded in the manufacturing sector.

As usual, even on dry Wednesday, Safaricom still paced traded volume with recorded deals for 2.210m shares worth Ksh 61.6m or 22.5% of totat at Ksh 27.60 and 28 per share.

Low trade apart though, the All share index closed up 1.16 points to 158.78 principally because major price gains were more although there were 21 price drops and 16 gains.

Jubilee Holdings led gainers with Ksh 6 or 1.49% per share rise as it found and closed at Ksh 410 per share compared to Ksh 404 previously while recording the exchange of 32,900 of its shares for Ksh 13m.

It was closely followed by Stanbic Holdings with Ksh 5.25 per share gain; East African Breweries up N3.50 per share and Diamond Trust Bank with Ksh 2.75 per share top up.

In contrast, Kapchorua Tea set pace for price drops with Ksh 4 per share decline while its 1000 units were traded at between Ksh 61 and 60 per share compared to Ksh 64 per share on Tuesday.

On its trail were Total Kenya down Ksh 1.20 per share and Standard Chartered Bank with Ksh 1 per share decline.

After starting the week on a high tone on Monday, it looks like the bond market opted for steady decline. From Ksh 6.349bn traded value in 88 deals, it had dropped to Ksh 5.416bn in 78 deals on Tuesday and now closed Wednesday at Ksh 4.423bn in 79 deals.

Despite this though, the trend remained well above average so far this week in terms of traded  value.

There was a major step up too: Sell or buy back recorded deals in 3 stocks with total Ksh 640m value.

Also,  there were 4 equities in the always active above Ksh 50m nominal value sector with deals for Ksh 500m each out of the 16 with deals therein.

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