JAN 29, 2018: INDEX DOWN DESPITE MORE GAINERS AT NAIROBI SECURITIES EXCHANGE

Today at the Nairobi securities exchange, the All share index went down by 0.53 points to 181.16 despite a higher number of price gains (20) than price drops (15).

The reverse was the case on Friday when 21 gainers were able to drive the ASI upwards despite 18 price drops.

This could be partly because last Friday Safaricom ended Ksh 0.25 per share up but today lost it again to close at Ksh 29.75 per share. It had closed at Ksh 30 on Friday after touching all time high of Ksh 30.50 but it jit a low of Ksh 29.50 today before closing at Ksh 29.75 per share.

In the end, its leading 3.95m shares exchanged today were sold at between Ksh 29.50 and 30 per share resulting in Ksh 47m traded value or one of the lowest recorded in Safaricom for a while.

The top price drop for today was however, recorded by British American Tobacco as it dropped by Ksh 10 to close at Ksh 760 per share followed by Kapchorua Tea, down Ksh 1.50 per share and Unga group with Ksh 1.25 per share drop and Standard Chartered bank which eased by Ksh 1 per share.

Being a high priced equity, the leading drop in BAT must contributed in no small measure to the ASI downwards trend.

Stanbic Holdings paced gainers with Ksh 3.50 per share rise as it recorded rare trade of 855,000 shares worth Ksh 72.5m. It had hit day high of Ksh 9.20 per share, then a low of Ksh 8.90 before closing at Ksh 8.95 per share, thus gaining 4.32%.

It  was trailed by East African Breweries with Ksh 2 per share gain  followed by TPS Eastern with Ksh 1.50 per share gain and Ksh 1 top up on each unit by Willamson Tea and Nation Media.

Trading was one of the lowest since this year as traded volume dropped to 9.58m shares from Friday's 36.39m and traded value came to Ksh 287.3m, less than half of Ksh 1.026bn recorded previously.

Investors interest remained high though as number of deals stood at 1079, slightly ahead of 1070 on Friday.

The reverse was the case at the bond market  as Ksh 2.6bn worth were traded in 73 deals compared to K551m in 55 deals on Friday.

EAB medium term issued at 12,95% and due in 2020 was the lone corporate stock with deals worth Ksh 3.7m; Sell or buy back witnessed deals in two stocks worth a total of Ksh 460m and 9 stocks nominally worth above Ksh 50m had deals  led by Ksh 750m worth of deals in Government fixed 10 year bond due April 2019 issued at 10.75%..

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