SEPT 20, 2018: RECORD DIVE AT NAIROBI SECURITIES EXCHANGE.

At the Nairobi Stock market on Thursday September 20 2018, the All share index dived by record 7.34 points or 4.71% to 148.52.

This will be the first time since the decline from all time heights above 190 started in April this year.

By April 6, 2018 for example, the ASI was 194.86 and since then there have been more trading days ending downwards than upwards but none with a drop as sharp as Thursday's.

On May 2 2018 the drop recorded was 3.69 points and indeed, most of the decreases recorded stayed below 3 points with many below one full point.

On Wednesday, the ASI had dropped by 1.89 points  to 155.86 before the Thursday dive and this was as 24 price drops and 8 gains were recorded.

The same ratio virtually paced the Thursday dive with 25 price declines and 9 gains but the difference was that top weighted Safaricom joined other highly weighted equities downwards.

I&M Holdings set the pace downwards with Ksh 8.50 per share declibe as it found and closed at Ksh 87.5 per share from Ksh 96 per share on Wednesday.

Close by was Ksh 7 per share drop recorded by yet another leading equity in the banking sector, Stanbic Holdings followed by high priced East African Breweries down Ksh 4 per share and another in banking, Equity Group with Ksh 2.50 per share decline.

The clincher turned out to be Ksh 1.75 per share decrease in the share price of Safaricom as it hit day high of Ksh 25.75 per share; low of Ksh 24.50 before closing at Ksh 24.75 compared to Ksh 26.50 per share previously.

This was as Safaricom once again, led traded volume with deals for 9.358m shares  worth Ksh 233.7m at between Ksh 24.50 and 25.75 per share.

Traded volume came to 13.559m shares down from 15.649m on Wednesday; traded value dropped to Ksh 364.037m from Ksh 409.801m while number of deals stayed at 1308, up on Wednesday's 1061 despite the volume and value decline.

KCB Group was the other equity with deals for above 1m shares as it closed with 1.812m shares exchanged for Ksh 70.2m at between Ksh 38.50 and 40 per share.




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