DEC 5, 2018: DROUGHT CONTINUES AT NAIROBI SECURITIES EXCHANGE

On Wednesday December 5, 2018, decreasing traded volume continued at the Nairobi stock market for the 3rd trading day after closing above average on Friday.

Traded volume closed Wednesday at 7.508m shares considerably lower than the 9.021m recorded on Tuesday which itself was also down considerably on Monday's 9.329m.

Earlier, the slide had started on Monday from 26.902m shares exchanged on Friday.

However, other trade indicators did not go the way of traded volume as such. Traded value declined to Ksh 278.627m on Monday then further to Ksh 229.249m on Tuesday buy on Wednesday rose to Ksh 233.536m.

On Friday last week, number of deals struck was a handsome 1341 but this declined to 889 on Monday then closed up on Tuesday at 994 before dropping to 973 on Wednesday.

Interestingly, the All share index rallied by the same 0.03 points it did on Tuesday. On Wednesday, the ASI closed at 146.46 that is down 0.03 points on Tuesday's 146.49 which on its part was down 0.03 points on Monday's 146.52.

This time there were 19 price drops and 15 gains while Jubilee Holdings pacing drops with Ksh 6.25 per share as it found and closed at Ksh 366 compared to Ksh 372.25 per share on Tuesday.

Other major drops include Ksh 1.25 per share shed by Williamson Tea and I&M Holdings, NIC Group's Ksh 1.05 per share decline and East African Breweries Ksh 1 per share decrease.

Diamond Trust Bank paced the gainers with Ksh 2.75 per share rise to close at Ksh 143.50 per share after touching day high of Ksh 145 and low of Ksh 140.75 per share which also previous day's closing.

Other major price gains were Total Kenya's Ksh 1.80 per share top up; and Portland Cement's Ksh 1.35 per share.

Business was equally dull at the bond segment of the market with only Ksh 484m traded value recorded compared to previous day's Ksh 1.05bn itself, again a drop on Monday's Ksh 1.314bn.

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