Unless an object is being used to support a speech or conversation to a group, “hands-free” is a wise policy. An exception might be a pointer, a laser pointer or similar when this is being used to pinpoint or highlight something on a chart, transparency or PowerPoint .
Presenters can, quite unconsciously get into the habit of holding a pencil, or some other object in the hand as they speak. This distorts gesture and is very off-putting. It focuses the audience on the object in hand rather than on the speakers presentation. Something to be avoided!