APRIL 18, 2019: BOND UP AT NAIROBI SECURITIES EXCHANGE

The bond market was more active and equity just barely up at the Nairobi Securities Exchange as the 4-day week drew to a close on Thursday April 18, 2019.

At the bond market, traded value closed the week at Ksh 19bn in spite of holy day on Friday compared to Ksh 13bn the previous 5 day week.

The high point of the 4 days was Monday when 88 deals worth Ksh 6.34bn was recorded and it continued to ease down daily after that.

It dropped to Ksh 5.416bn in 78 deals on Tuesday; Ksh 4.423bn  in 79 deals on Wednesday before closing at Ksh 3.167bn in 88 deals by Thursday.

Trading activity during the 4 days at the bond segment was clearly in contrast to traded volume and value at the equity segment which dropped to 34.6m shares worth Ksh 1.2bn compared to 78.7m shares worth Ksh 2.3bn the previous week.

Traded volume through the week did not 12m shares any day of the 4 days with top line being 11.451m shares traded in 1050 deals worth Ksh 290.348m on Tuesday and hit week low on Wednesday April 17 when 5.517m shares were exchanged for Ksh 273.807m.

Of course, number of deals crossed 1000 only on Tuesday although at 952 deals for 10.680m shares worth Ksh 429.614m, Thursday, the last trading day, came close..

As usual, Safaricom recorded all week top volume with 12.5m shares valued at Ksh 345m. The shares were traded at between Ksh 27.05 and 28 per share. Of that lowly 1.773m shares was on Thursday.

The banking sector contributed 54.71% or Ksh 663m  as amidst low trade in most sectors on Thursday, the sector recorded trade in all equities listed in it.

Top of the bill was KCB Group in which 6m shares worth Ksh 273m at between Ksh 44.75 and 45 per share with 4.061m shares traded in it on Thursday.

Other equities in the sector chipped in good portions too. For example, Equity  Group, down 1.30%, recorded deals for 3.9m shares valued at Ksh 168m and Diamond Trust Bank witnessed exchange of 1m shares worth Ksh 146m within the week.

After 2 days up and down, the All share index closed at 158.29 on Thursday, up 0.38 points on April 12 level.

It dropped to 157.53 on Monday then rose the best 2 days to land on 158.78 points before going down 0.49 points to 158.29 on Thursday

The Friday decline was not surprising not because it occurred but because the decline was not very sharp. Price drops dominated the market as 26 were recorded  compared to only 9 gains.

Top decline was Ksh 7.50 per share by Bamburi Cement followed by Ksh 2.25 per share by Limuru Tea; Ksh 1.59 per share by Williamson Tea; Centum Investment's Ksh 1.35 per share and Ksh 1.25 per share drop by Stanbic Holdings.

In fact, it was remarkable that no price gain was up to Ksh 1 per share while aside from the many gains above this mark, Aaagads Ltd and Nation Media closed up as well but with Ksh 1 per share each.

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