DEC 10, 2018: INDEX DIVES MORE AT NAIROBI SECURITIES EXCHANGE

At the Nairobi stock market on Monday December 10, 2018, the All share index tumbled by 1.53 points to 142.52 as far more prices went down than gains.

In all there were 39 price changes out of which 28 were downwards and what's more, the gains recorded were so marginal none came close to top 5 drops.

Once again, British American Tobacco paced decline like it did on Friday but this time, with Ksh 24 per share drop thus shedding Ksh 84 per share in 2 days.

Only 2300 shares were traded in BAT but the tumble was such that they were sold at between Ksh 539 day high and Ksh 500 per share day low before closing at Ksh516 per share compared to Ksh 540 per share at the end of Friday crash.

It was trailed by Ksh 3.25 per share drop by Standard Chartered Bank; Ksh 2.45 per share decrease by NIC Group ; Ksh 1.75 drop by East African Breweries and Unga Group Ksh 1.15 per share decline.

None in the commercial and services sector made the top 5 decline but you could say that investors were bearish about the sector because of the 9 price changes recorded alongside deals, only 1 closed up.

The 8 price drops were paced by Nation Media,  down Ksh 0.50 per share and the lone ranger was Uchumi Supermarket up Ksh 0.08 per share.

All 4 price changes in the Insurance sector too were downwards while in energy and petroleum sector and investment sector, 3 price drops and 1 gain was the trend.

Top gain was Sasini's Ksh 0.75 per share as it hit day high of Ksh 21 per share, then low of Ksh 19 before closing at Ksh 19.95 per share as against Ksh 19.20 previously.

Traded volume eased to 18.079m shares from 18.703m on Friday but traded value dropped more sharply to Ksh 398.074m from Ksh 526.189m and number of deals declined to 914 from 1103.

Only 2 equities had witnessed deals for above 1m shares. Safaricom recorded exchange of 13.2m shares for Ksh 299n at between Ksh 22.60 and 23 per share while Kenya Reinsurance ended with deals for 1.014m shares worth Ksh 40.4m at between Ksh 39.60 and 40 per share.

At the bond market, the remarkable thing was that number of deals struck fell to a low of 19 worth Ksh 1.049bn compared to 44 deals on Friday worth Ksh1.885bn.

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