OCTOBER 13, 2018: FAST LANE WEEK AT NAIROBI SECURITIES EXCHANGE

The Nairobi stock market took a fast lane downwards last week ended Friday October 12, 2018 as All share index hit a new low of 144.25 on Friday.

At that level, the ASI thus ended the week down 6.63 points or 4.39% compared to 150.88 previous week's close.

It was a scary daily drop through the week as if the search was on for a bottom to bounce back from.

The only day there was relatively slow decline was Tuesday when the ASI closed at 149.63 from Monday's 149.92.

Then it tumbled by 2 points to 147.63 before shedding another 3.37 points or 6.62% on Friday.

Of course, Friday was the most dramatic and it was also the day Safaricom went down Ksh 1 per share amidst 16 other drops to outshine 13 gainers and also end the week Ksh 1.75 per share down.

But lead drop for the week was Ksh 19 per share by Jubilee Holdings which ended Friday Ksh 2 per share up to reduce the Ksh 21 per share tumble it had on Tuesday October 9 before the Wednesday holiday.

Limuru Tea, down Ksh 13 per share, was the week's 2nd highest decline as it went through the week in rare outing. After closing firm on Monday, it shed Ksh 1 per share on Tuesday then paced decline on Thursday and Friday with Ksh 9 and 3 per share drop respectively.

Unlike Limuru Tea, though, Williamson Tea recorded price change each day and ended up Ksh 5 per share down all week by Friday.

All week top gain was Ksh 4 per share by the duo of  I &M Holdings and Bamburi Cement. For Bamburi, it simply sustained the positive price change on Thursday while I&M cumulated its from Monday and Tuesday price gains.

The 4 day week traded volume came to 46.390m shares in 5061 deals valued at Ksh 1.143bn with Tuesday leading volume and value.

Much the same way, Safaricom paced volume and value with 23.3m shares traded for Ksh 560m at between Ksh 22.75 and 25 per share.

Other top 5 volumes include KCB Group (6.1m shares); Equity Group (3.3m shares) Kenya Power & Lighting (2.8m) and NIC Group with 1.2m shares traded.

In value terms though, the order was broken by Limuru Tea in which less than 1m shares were traded for Ksh51m to place 4th behind KCB Group (Ksh 231.4m) and Equity Group (Ksh 128m) but ahead of another gatecrasher: East African Breweries with Ksh 33.2m traded value.

Given the relatively low trade daily through the week, no surprise at all that traded value at the bond market came to only Ksh 8.8bn compared to Ksh 11.0bn the previous week.

ALL SHARE INDEX

Friday. 12/10/2018.         144.25
Thursday.                           147.63
Tuesday.                             149.63
Monday                               149.92
Friday 5/10/2018.             150.88

TRADED VOLUME m

Friday  12/10/2018.        14.001
Thursday.                          17.644
Tuesday.                             7.925
Monday.                              6.820

TRADED VALUE  Kshm

Friday 12/10/2018.        338.259
Thursday.                         440.490
Tuesday.                           221.022
Monday.                            143.508

DEALS:

Friday.  12/10/2018.     1179
Thursday.                        1125
Tuesday.                          1161
Monday.                           1596



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