DEC 14, 2018: FUTILE RALLY AT NAIROBI SECURITIES EXCHANGE

Two day rally at the Nairobi stock market ended on Friday December 14 more like a futile one since it failed to return the All share index to its start of the week level.

In a four day trading week the market had taken off with 2 major consecutive drops on Monday and Tuesday but recovered only by 0.02 points on Thursday before closing 1.63 points up on Friday to close the week at 142.53 compared to 144.05 previously.

The upwards pressure on Friday was led by Kapchorua Tea as it closed at Ksh 74 per share compared to Ksh 70 previously and  Standard Chartered Bank up Ksh 3.50 per share as it touched day high of Ksh195 per share; low of Ksh 194 before closing at Ksh194.75 per share compared to Ksh 191.25 on Thursday.

Other major price gains were Ksh 1.75 per share by Williamson Tea, Ksh 1 per share by I & M holdings and of course. Ksh 0.75 per share rise by Safaricom.

On the other side of the scale, East African Breweries paced price losers with Ksh 1.50 per share  followed by Ksh 1.15 per share decline by Liberty Kenya.

As usual, Safaricom was the pace setter on Friday and all week with 29.994m shares traded on Friday bringing its total for the week to 86.6m shares worth Ksh 1.9bn  at between Ksh 21.90 and 23.25 per share.

In value terms, British American Tobacco came closest with 973,000 shares traded within the week for Ksh 514m at between Ksh 500 and 539 per share.

The banking sector chipped in Ksh 634m with Equity Group leading 5.6m shares traded for Ksh 220m at between Ksh 38.80 and 39.90 per share; followed by KCB Group with 4.8m shares traded for Ksh 194.4m and NIC Group , down 11.33% within the week, with deals for 5.1m shares worth N129.4m.

Trading at the bond market was relatively low within the week with traded value closing at Ksh4.7bn compared to Ksh7 bn the previous week.

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