DEC 21, 2018: STILL HAZY AT NAIROBI SECURITIES EXCHANGE

Concepts of the economic future seemed hazy still at Nairobi stock market as the All share index plunges on not just because the mighty ones are losing ground, most seem to be.

On Thursday, price gainers outstripped losers 21 to 17 thus bringing the ASI below the 140 line for the first time in more than a year 

On Friday, the gap widened: 23 price drops and only 14 gains. In the end, the ASI eased some more by losing 0.87 points to 138.95 not bothering to hover around 139.

In addition at that level the ASI was 3.58points or 2.51% lower previous Friday's level.

And with good reason: Price drops were not only more, they also dominated margin of price changes in terms of Kenya Shillings.

Top price declibe for the day was Bamburi Cement's Ksh 8 per share as it closed at Ksh 132 per share compared to Ksh 140 per share hitherto.

Williamson Tea followed with Ksh 3.75 per share drop ahead of Nation Media's 3.25 per share decline; and Stanbic Holdings Ksh 1.50 per share decrease.

The price gainers were paced by Jubilee Holdings up Ksh 3.25 per share as it closed at Ksh 393.25 per share after touching day high of Ksh 402 and low of Ksh 390 per share.

There were 2 other major price gains: Centum Investment plc rose by Ksh 1.50 per share while East African Portland Cement added Ksh 1 per share.

Top traded volume was WPP Scan Group's 7.434m exchanged on Friday in a rare showing bringing its all week volume to 7.7m worth Ksh 104m at between Ksh 12.80 and 14.50 per share.

Safaricom thus played 2nd fiddle on Friday with deals for only 5.637m shares but it still paced all week trade with 56.6m shares exchanged at between Ksh 22.20 and 23.25 per share with total leading value of Ksh 1.2bn 

The banks contributed Ksh 486m or 21.42% of total value for the week led by Equity Group in which 1.613m shares were traded on Friday pushing its all week trade to 7.5m shares worth Ksh 282m at between Ksh 25.75 and 39 per share.

Other major all week banking trades were KCB Group's 3.9m shares traded for Ksh 151m and Cooperative Bank's 1.99m shares worth Ksh 27.9m.

On Friday East African Breweries, one of the very active equities on the market, recorded deals for 335,000 shares bringing its all week total to 1m valued at Ksh 170m while comparatively less active British American Tobacco in the same manufacturing sector, paced all week market gains with 24.60% or Ksh 123 per share.
 
Kenya Power and Lighting with 5.462m shares traded on Friday and 25.8m exchanged all through the week, undoubtedly recorded the 2nd highest volume for the whole (after Safaricom) but traded at between Ksh 3.05 and 3.75 per share, total value came to only Ksh 82.7m,  way behind Safaricom, and the likes of Equity Group, KCB Group and East African Breweries.

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