NOV 28, 2018: GAINS EVERY WHERE AT NAIROBI SECURITIES EXCHANGE

For the 3rd running at the Nairobi stock market on Wednesday November 28, market closed positive as the All share index rose by 0.58 points to 145.30 truly putting up and down swing behind.

Almost 7 day run of up today, down tomorrow had been paused on Tuesday with growth instead of decline in the ASI and so, confirms end of the end.

Interestingly, the ASI growth was inevitable as of the 36 price changes tecorded only 11 closed down. 25 were up. Besides, margin of growth was higher too.

No equity went down by up to Ksh 1 per share but at least 3 crossed this mark amongst price gainers.

Top gain was that clocked by East African Breweries while closing active as usual. Total of 42,500 shares of EAB were traded for Ksh 7.4m and in the process, it hit day high of 178 per share, low of Ksh 173 then closed at Ksh 175.25, up Ksh 4.25 per share on Tuesday's Ksh 171 per share.

Other major price gainers were Standard Chartered Bank up Ksh 1.75 per share and Bamburi Cement which topped up by Ksh 1.50 per share.

In contrast, top price drop was Centum Investment's Ksh 0.85 per share recorded as it trended down from Ksh 27.85 per share on Tuesday to Wednesday high of Ksh 27.50, then low of Ksh 26.75 before recovering to close at Ksh 27 per share.

Other relatively major price drops were Nation Media's Ksh 0.75 per share and Kenya Reinsurance's Ksh 0.70 per share decline.

Trade declined though with number of deals slipping below 1000 at 999 for 20.728m shares worth Ksh 504.669m compared to 1235 deals involving 32.866m shares valued at Ksh 816.477m on Tuesday.

Safaricom was once again the top traded equity although less so when compared to Tuesday trade figures. On Tuesday, it accounted for 79.94% of traded value but come Wednesday, this dropped to 78.98%.

In all 16.748m of Safaricom's shares were traded for Ksh 398.6m at between Ksh 23.75 and 24 per share.

The only other equity with above 1m traded shares was KCB Group in which 1.632m shares were traded at between Ksh 39 and 40 per share for total of Ksh 64.5m. This helped drive banking sector's contribution to traded value to Ksh 83.9m or 16.64%.

The bond market eased a little with traded value ending at Ksh1.5bn compared to Ksh 1.6bn on Tuesday.

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