DEC 6, 2018: WEEK OF DROPS AHEAD AT NAIROBI STOCK MARKET?

One trading day to go and it has been 4 days of gloomy closing at the Nairobi Securities Exchange; is the first week in December going to end with 5 day decline?

That will be decided Friday December 7, 2018. For now, the All share index eased once again, this time by 0.81 points to 145.65 second only to 1.95 points declibe recorded on Monday, at the start of the week.

Once again it was a close call between number of price gains and drops as the day closed with 19 gainers and 17 losers.

The gains were mainly below Ksh 1 per share except for Jubilee Holdings  lead Ksh 2.75 per share top up as it ended at Ksh 368.75 after touching day high of Ksh 370 and low of Ksh 366 per share compared to the same Ksh 366 previously. This was while recording deals for only 8000 units.

Trailing it amongst top 5 gains was Unga Group with just Ksh 0.90 per share increase.

On the other hand, top decline included at least 3 above Ksh 1 per share drops. BOC Kenya led with Ksh 5 per share decrease as it found and closed at Ksh 75 per share as against Ksh 80 previously.

It was followed by the duo of Nation Media and East African Breweries down with Ksh 1 per share each. Noteworthy too was the fact that top weighted shed Ksh 0.25 per share.

Trade picked up slightly thus putting a stop to daily decline since the week. Traded volume ended at 8.439m shares, still below average but ahead of Wednesday 7.518m shares which now remains the week's low this far.

Deals struck in Safaricom for 4.402m shares worth Ksh 103.9m at between Ksh 23.30 and 23.60 per share, accounted for the bulk of traded value (54.09%).

The banking sector chipped in 31.93% or Ksh 60.5m although no equity listed there had deals for above 1m shares. The highest was Cooperative Bank's 602,700 shares traded for Ksh 10m.

Trading rallied comparatively strongly to record Ksh 2.2bn traded value compared to just Ksh 0.484bn on Wednesday.

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