SEPT 18, 2017: ALL SHARES INDEX DOWN 1.5% AT NAIROBI SE

It is possible that the Nairobi securities exchange is still finding it pretty difficult to ignore the current hazy political climate in Kenya as it closed today with bearish pressure resulting in 29 price drops abs only 8 gains 

Hence, after hopeful rally since September 14, the All shares index dropped by 2.46 points or 1.50 % to 162.03.

First a real crash in prices had occurred September 1 with the ASI going down by 3.69% immediately the annulment of the presidential election results was announced.

It followed with another 1.65% drop the next trading day, September 4 and rallied well everyday from then to September 13 when it once again dropped by 1.55%.

It was from 164.17 on September 13, it had been recovering bit by bit till it closed at 164.49 last Friday and it was hoped that the worst from the political scene was over.

The 8 gainers were led by Bamburi which gained Kes 9 or leading 5.03% to close at Kes 188 compared to Kes 179 per share last Friday 

In % terns it was trailed by Britam Holdings up 4.98% or Kes 0.70 to close at Kes14.75 per share and CIC Insurance with 3.60% or Kes 0.20 per share while closing at Kes 5.75 per share.

On the other the more crowded losers group was led in % terms by Olympia Capital as it lost 9.68% or Kes 0.30 to close at Kes 2.80 per share.

Following were the duo of Sameer Africa (down 8.93%) and Express ltd with 8.33% drop.

In Kshillings terms however, the top price drop occurred in British American Tobacco as it closed the day at Kes 800, down 0.87% or Kes 7 per share.

The low point of today trading also showed in traded volume and value. Traded volume dropped to 8.365m but it is hard to conclude that this was politics driven.

This is because it is not the lowest since Henates started monitoring the market. On May 15, with no political tension in the air, traded volume came to 7.955m, down 72.8% on previous day.

On August 21 volume recorded was 8.781m down 71% on the previous day.

July 10 was yet another day it went below 10m as traded volume then stood at 9.436m, down 78.6%.

Traded value at Kes 201.9m today was also not the lowest since then, the worth on May 15 was Kes 141.01m.


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