SEPT 13, 2017: FINALLY, ASI EASES AT NAIROBI SECURITIES EXCHANGE

Finally, after six consecutive trading days of putting still hanging presidential elections behind by closing up beat the Nairobi securities exchange ended today September 13, downbeat as the All shares index dropped by 1.55% or 2.59 points to 164.17.

It had crashed by 3.69% on September 1, when the Kenyan Supreme court ordered cancelled the presidential election results and ordered a re run within 60 days 

The next trading day, September 4, it eased further by 1.65%  but started to recover the next day rising by 1.57% then by 0.23% on the 6th.

On the 7th the growth rate improved to 1.73% and to 1.85% by the 8th.

The last two trading days had seen growth rate slow down first to 0.4% on the 11th and then, 0.26% yesterday. But of course, even this was more positive in outlook than a drop.

Today's downbeat was as a result of 20 price drops as against 11 gains recorded especially as three relatively high price equities were among the losers 

Both gains and losses were in little bits though with Eaagads leading losses with Kes 2.50 decrease to Kes 23.50 per share followed by ARM Cement with Kes 1.40 per share.

Both were followed by three high priced equities: Diamond Trust Bank, Bamburi cement and East African Breweries going down with Kes 1 each.

Top price gain in Kes terms was by Stanbic Holdings with Kes 1 per share rise to Kes 81 per share followed by Unga group, Salam ltd and National bank of Kenya with Kes 0.75 gain each.

Trading declined too at the equities market with traded value dropping by 42.9% to Kes646.2m and volume closing 27.4% down at 23.25m although number of deals came to 1234, up 3.7%.

Safaricom, down Kes 0.75, recorded leading 10.46m shares or 45% of traded volume worth Kes 265m or 41.06% of traded value for the day.

The deals were recorded at between Kes 25 and 26 per share as Safaricom eased to a day low of Kes 25.0 from yesterday's Kes 26.0 before recovering a bit to close at Kes 25.25 per share.

Equity group, with second highest traded volume also had similar run, closing yesterday at Kes 39 per share, hitting a day high of Kes 39.25 and a low of Kes 38.75 per share thus shedding Kes 0.25.

It led activities in the banking sector with deals at between Kes 38.75 and 39.25 per share for 3.64m units worth Kes 141m out of the Kes 209m traded value in the sector 

Other equities with above 1m traded volume were rarely traded TPS Eastern Africa with deals for 1.35m shares worth Kes 37/8m; Kenya Power and Lighting, down Kes 0.35, with deals for 2.77m units and lightweight Home Afrika in which 1.096m shares changed hands.

The bond continued to recover as trading in government treasury bond under Kes 50m nominal value came alive with deals in 31 listed therein worth Kes198m.

In the end, bond traded value came to Kes 2.445bn, in 83 deals up on yesterday's Kes 2.1bn in 31 deals.

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