JAN 22, 2018: LESS DROPS BUT ASI DOWN AT NAIROBI SE

Against market mood today, Monday January 22, 2018, the All shares index at the Nairobi Securities Exchange eased by 0.36 points to 179.81 as 24 price gains and far lower 13 drops were recorded.

The issue was that Safaricom accompanied three high priced equities downwards while the price gains recorded, tbough more, were rather marginal.

Top gain was by East African Breweries as it hit day high of Ksh 246 per share, low of Ksh 242 before closing at Ksh 244 per share, up Ksh 4 on last Friday's close.

It was trailed by Unga group with Ksh 2.25 per share gain; Stanbic Holdings and Crown Pains up Ksh 1.50 per share each and Sanlam Kenya which paced rather bullish insurance sector with Ksh 1.25 gain per share.

Of the 6 insurance equities with price changes, only Jubilee Holdings went down and relatively big too. It lost Ksh 5 per share after touching day high of Ksh 510 per share, before closing at Ksh 500 per share.

Yet, it did not pace drops for the day. That honour went to B O C Kenya, down Ksh 8 per share as it closed for the day once it hit Ksh 100 per share 

A third top price drop was witnessed by Bamburi Cement, which went down Ksh 2 per share while Safaricom, going down Ksh 0.25 per share after hitting Ksh 29.75 sealed the decline in ASI for the day.

Naturally, after last Friday's out of tune offload in Ken Kobil, there was no way a repeat could be on the cards and so traded value and volume tumbled to Ksh 552.4m and 19.53m shares from Ksh 5.95bn and 387m shares respectively on Friday.

Above 1m traded volume in Safaricom and three banks kept the flag flying though. Safaricom paced with deals for 8.82m shares worth Ksh 259m or 47% of market total with the shares being sold at between Ksh 29 and 29.75 per share.

Equity bank, down Ksh 0.25 per share witnessed deals for 2.235m shares at between Ksh 43.5 and 44.5 per share worth Ksh 97.9m while Cooperative bank recorded Ksh 71.8m worth involving 4.285m shares and KCB Group also down Ksh 0.25 per share, 

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