NOV 23, 2017: AT LAST ALL SHARES INDEX TUMBLES AT NAIROBI

After six trading days of back to back daily increase, the All shares index today at Nairobi Securities Exchange crashed by 4.27 points or 2.48% to 167.90.

Yesterday it had hit new high of 172.17 when it rose by 2.32% or 3.90 points. Indeed, from 160.01 by November 14 the ASI had increased daily thus accumulating a total of 12.12 points by yesterday.

The almost one week long daily rise was punctuated today despite almost even number of gainers (16) and price losers (15) and despite top increases in the price of Jubilee Holdings; and Kakuzi ltd amongst others.

Jubilee Holdings had stayed firm at Kes 490 through the day thus recording Kes 23.00 per share increase. Kakuzi too rose by Kes 6.00 per share as it closed firm at Kes 350.

Other major gainers were Williamson Tea and East African Breweries, up Kes 3.00 per share each.

Yet the ASI closed down 2.48%. Top of the price drops was Kes 3.25 per share decline as Standard Group hit day high of Kes 116 per share then closed at low of Kes 115.

Close on its heels was Kes 3.00 drop in Diamond Trust Bank and of course, the more impactful Kes 1.50 per share or 5.3% decrease in the price of Safaricom.

Safaricom had hit new high of Kes 28.50, eased to day low of Kes 26.00 before closing at Kes 26.50, compared to Kes 28.00 per share yesterday. 


Trading indicators too trended down but less remarkably. Traded volume eased by 0.41% to 34.466m shares from yesterday's 34.6m; traded value declined by 18.2% to Kes 839.289m less deals were recorded in high priced equities and number of deals dropped by 13.5% to 1499.

As usual Safaricom paced the market with deals for 16.33m shares worth Kes 436m about 52% of traded value unlike yesterday when it contributed less than 50% to traded value.

This time around it was followed by the Insurance sector with traded value of Kes 137m or 16.35% as Kenya Re paced the sector with deals for 6.06m shares and rarely traded Sanlam Kenya chipped in 160,000 units and Britam witnessed 449100 shares changing hands.

The banking sector contributed Kes 108m or 12.92% to traded value with Cooperative bank, down Kes 0.40 per share recording deals for 1.213m units worth Kes 20m; KCB Group witnessing deals for 1.05m worth Kes 45m at between Kes 43 and 44; and Equity Group closing with deals for 628,200 shares worth Kes 27m.

Other major contributors include East African Breweries with deals for 156,000 units worth Kes 37m; Ken Kobil in which 4.8m shares changed hands at between Kes 14.85 and 15.15 per share worth Kes 72m and Bamburi Cement in which 69,600 shares were traded at between Kes 180 and 183 per share worth Kes 12m.

Traded value eased a little to Kes 2.0 bn in 43 deals at the bond market compared to Kes 2.13 bn yesterday.

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