OCT. 30, 2017: LITTLE GAINS AT NAIROBI SECURITIES EXCHANGE

It was a clear case of little drops of gains amounting to All shares index rise despite heavy declines in a few equities.

The ASI once again pulled surprises by closing up 0.24 points or 0.15% to 160.11 in spite of yet to be settled presidential election dusts.

Last Friday, just a day after the inconclusive and selectively violent rerun of the elections, the ASI gained 1.76points or 0.94%.

Today's positive closing was propelled by little gains each recorded by 23 equities as against 9 price drops predominantly of the heavy kind.

Lead price drop was recorded as Jubilee Holdings slipped to close at Kes 445 per share, down a whopping Kes 49.00 when compared to last Friday's Kes 494 per share.

Williamson Tea, too also witnessed major Kshillings drop, losing Kes 12.00 per share as it slipped from day high of Kes 162 per share to close at Kes 160 per share compared to Friday's Kes 172.

Not quite done, Stanbic Holdings slipped by Kes 2.00 per share as well before all other six price drops settled for less than Kes 0.50 each.

In sharp contrast, top gain was as Crown Paints hit day high and close of Kes 80 per share accompanied with 400 units changing hands.

Other major gainers were Standard Chartered Bank and Nation Media, up Kes 2.00 each and Umeme Ltd, with Kes 1.20 gain. All others topped up with less than Kes 1.00 each led by Total Kenya's Kes 0.75 per share rise.

Trading was low though with volume easing by 4.16% to 10.6m shares and traded value dropping by 16.1% to Kes 291m although, surprisingly, investors interest stayed high resulting in 18.3% increase in number of deals to 1142.

Both volume and value were sustained, more or less by the banking sector as KCB group led sector and market with deals for 3.055m shares worth Kes 116m out of the Kes 182m or 62.52% of total market traded value contributed by the sector.

Cooperative Bank had trailed in the sector with deals for 1.755m units worth Kes 28m as Equity Group witnessed deals for 786,900 units worth Kes 28.7m while closing up by Kes 0.25 per share.

In Safaricom, 2.04m shares changed hands during the day at between Kes 25 and 25.50 per share worth Kes 51.5m or 17.7% of market total.

The only other sector with double digit % contribution to traded value was Manufacturing and Allied which accounted for Kes 36m or 12.57% on the back of deals for East African Breweries for 141,900 shares worth Kes 34.7m.

Trading was low too in the bond market with Kes 921m traded value recorded.

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