NOV 27, 2018: UP AND DOWN STOPS AT NAIROBI STOCK MARKET.

The up today, down tomorrow trend noticeable at the Nairobi Securities Exchange since Tuesday last week, was on Tuesday November 27 brought to a halt. Wednesday though will decide if this is just a pause.

The All share index at the market closed up this Tuesday by 0.29 points to 144.72 after increasing by 0.30 points on Monday.

That broke with the trend that started with an increase on Tuesday last week, followed with a drop on Wednesday then another rise on Thursday 22nd before closing Friday 23rd down.

It was from this the Monday rally occurred in step but a drop the following day Tuesday, not an increase, would have kept the trend going.

It was a close pressure point between gainers and losers though with 20 price gains and 19 drops recorded. The difference was that higher margin of gains were more.

Gainers were led by Kapchorua Tea as it closed up Ksh 3 per share after touching day high of Ksh 75, low of Ksh 159 before closing at Ksh 74 per share compared to Ksh 71 previously.

It was followed by 5 other price gainers with above Ksh 1 per share each. Standard Group Ross by Ksh 2.50 per share; East African Breweries gained Ksh 2 per share; Standard Chartered Bank topped up with Ksh1.50 per share; Sanlam rose by Ksh 1.40 per share and Centum Investment closed Ksh 1.35 pet share up.

In the case of price losers, only Williamson Tea went down above this range. After hitting day high of Ksh 160 it slipped to low of Ksh 159 then closed at Ksh 159.75 per share, down Ksh 3.25per share from Ksh 163 on Monday.

It was trailed by Crown Paints, down Ksh 0.75 per share; Total Kenya which shed Ksh 0.55 per share and the duo of Stanbic Holdings and Eaagads ltd, with Ksh 0.50 per share decline each.

Traded volume continued upwards thanks this time, to 27.426m shares of Safaricom exchanged for Ksh 652m at between Ksh 23.75 and 24 per share while closing firm.

This came to 79.94% of the day's Ksh 816.477m traded value in equally higher 1235 deals compared to 1047 deals for 21.114m shares worth Ksh 686.420m on Monday.

The banking provided the needed support with Ksh 114m traded value or 17.73% of total as Equity Group paced the sector with 3.241m shares exchanged for Ksh 127.3m at between Ksh 39 and 49 per while closing Ksh 0.25 per share up.

Traded value of bonds came to Ksh 1.6bn, twice the Ksh 813m recorded on Monday.

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