FEB 13, 2018: UNDULATING ASI AT NAIROBI SECURITIES EXCHANGE

Today, at the Nairobi Securities Exchange the All share index closed 0.57 points up compared to yesterday's dip and looks certain to reverse itself tomorrow in an undulating dance.

The ASI closed today at 178.35 principally as high priced British American Tobacco joined Safaricom to apply shoulders to the wheel.

BAT led 14 price gains by closing Ksh 3 up. It has ended yesterday at Ksh 783 per share, hit a day high of Ksh 790 today and low of Ksh 785 before pitching tent at Ksh 786 per share, down Ksh 3.

It was trailed by Unga Group, up Ksh 1.50 per share and the duo of Diamond Trust Bank and Stanbic Holdings with Ksh 1 per share gain.

Sure, these and others amongst the 14 price gains made a difference but the way upwards for the ASI was likely assured by Ksh 0.25 rally by Safaricom  as it hit day high of Ksh 29 per share and low of Ksh 28.25 before closing at N28.50 per share.

Hence, in spite of higher 18 price drops the ASI booked a place upwards.But the chances of the heavyweights ralling tomorrow again to keep the ASI upwards is rather slim. Downwards may be more like it, to confirm new undulating pattern 

The price drops were led by Ksh 2 per share decline recorded in Nation Media share price as it opened at yesterday's Ksh 108 per share then eased to day low and close of Ksh 106 per share.

Indeed, the market was rather bearish about the commercial sector which Nation Media belongs as of the 8 price changes recorded there, only Eveready closed up.It gained just Ksh 0.05 per share.

The rest 7 were paced downwards by Nation Media followed by Standard Group, down Ksh 1 per share and others with below Ksh 1 per share drops.

Trading trended down though except for slight increase in number of deals to 1210 from yesterday's 1110.

Traded volume came to 16.109m compared to yesterday's 20.669m and traded value closed at Ksh 514.125m from Ksh 622.09m.

At the bond market, traded value rose to Ksh 4.567bn in 40 deals compared to Ksg 3.72bn in 72 deals yesterday.

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