DEC 20, 2018: NAIROBI STOCK MARKET AT NEW LOW.

For years now, the worse that ever happened to Nairobi Securities Exchange was for the All share index to close at 140.00 which it had not until on Thursday.

On Thursday, December 20 2018, the ASI finally crossed this line to close 1.13 points down at 139.82

It was a far distance from 193.90 clocked before as peak and also makes the markets months long struggle to stay above the 140 mark was not worth it.

Again, the ASI decline was in spite of 3rd day strong rally by British American Tobacco. BAT had gained Ksh 42 per share on Tuesday then another Ksh 46 the following day.

On Thursday, BAT hit day high of Ksh 645 per share and low of Ksh 589. before closing at Ksh 623 per share, down Ksh 35 per share when compared to Ksh 588 per share.

This means that in 3 days BAT had gained Ksh 123 per share with limited impact on the ASI in a market that somewhat remains an emerging one.

BAT paced 17 gains on Thursday which includes Ksh 21.75 per share leap by Jubilee Holdings and Williamson Tea's Ksh 8.75 per share top up.

There were 20 price drops though and all except the lead decline by East African Breweries stayed below Ksh 1 per share.

EAB paced by touching day high of Ksh 180, slipping to low of Ksh 165 before closing at Ksh 168; down Ksh 4 per share when compared to N172 pee share on Wednesday.

Of note though was the fact that Safaricom eased by Ksh0.45 per share and that must have had quite an impact on the ASI.

Safaricom during the day, recorded deals for leading 19.301m shares worth Ksh434m at between Ksh 22.35 and 22.90 per share.

At 66.43%, this was quite a chunk of the day's Ksh 653.256m traded value in 1024 deals for 23.923m shares compared to 944 deals involving 25.778m shares valued at Ksh 428.948m the previous day.

This time around, though, it was the manufacturing sector, not the banking sector, that came close. It accounted for Ksh 122m traded value or 18.73% as EAB chipped in Ksh 97.8m from 581,900 shares traded at between Ksh 165 and 180 per share and BAT adding Ksh 24m for 39,000 shares while closing 6.12% up.

The banking sector accounted for only Ksh 84m or 12.89% of traded value with KCB Group leading with 1.245m shares worth Ksh 47.4m at between Ksh 37.75 and 38 per share before closing up Ksh0.05 per share.

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