NOV 21, 2018: POOL OF DROPS AT NAIROBI SECURITIES EXCHANGE

Of the 33 price changes at the Nairobi stock market on Wednesday, November 21 2018, 25 or a big pool of sorts was downwards so much so that mighty Safaricom's price gain made no difference.

The All share index closed down 0.14 points at 144.03 as most sectors of the market were more or less dominated by bears.

All 6 price changes in the Commercial and services  sector were downwards; just like 6 out of seven in the banking sector; and 4 out of 5 in Agriculture.

Trade in Limuru Tea was among the rare events in the market and whenever it occurred, the price had a way of heading down.

Wednesday was no exception. As it recorded deals for 1300 units Limuru Tea tumbled Ksh 33 per share to pace the crowded price losers group for the day.

It was followed by East African Breweries in the manufacturing sector with Ksh 8 per share decline before fellow agric equities like Williamson Tea and Kapchorua Tea, showed up.

Williamson Tea shed Ksh 6 per share while Kapchorua Tea lost Ksh 3.50 per share leaving  rather always active Sasini to join with Ksh 0.50 per share as Eaagads ltd closed exceptionally in the sector up Ksh 0.85 per share.

The pool of drops spread more from the commercial and services sector led by Nation Media down Ksh 1 per share followed by WPP Scan Group (down Ksh 0.80 per share) and 4 others with between Ksh 0.10 and 0.35 per share decline.

The 6 price drops in the banking sector were paced by Diamond Trust Bank down Ksh 1 per share and included the pair of Stanbic Holdings and NIC Group down Ksh 0.50 per share; the duo of KCB Group and National Bank of Kenya down Ksh 0.25 per share each and Cooperative bank's Ksh 0.05 per share decline. The lone ranger was HF Africa up Ksh 0.10 per share.

In the insurance sector though, gainers had the edge as 3 out of 5 price changes resulted in gains, even if marginal in the main.

Traded volume almost doubled ending at 16.730m shares from 8.719m but traded value more than tripled to Ksh 499.169m from Ksh 161.094m previously.

The boost especially in value came from the banking sector which accounted for 47.34% of traded value or Ksh 236.3m, the manufacturing sector which EAB drove to chip in Ksh 82.7m or 16.71% of traded value and of course, from Safaricom, though with lower trade compared to Tuesday, still accounted for 33.32% or Ksh 166m in deals for 7.003m shares at between Ksh 23.50 and 24 per share while closing Ksh 0.25 per share up.

Tuesday's relative scramble at the Bond market continued on Wednesday with 164 deals being struck for Ksh 3.17bn traded value compared to 128 deals worth Ksh 2.46bn on Tuesday.

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