JAN 11, 2019: WEEK OF GAINS AT NAIROBI SECURITIES EXCHANGE

The Nairobi stock market on Friday January 11, 2019 ended its first full trading week in the new year with resounding optimism that drove All share index up 5.58 points or about 4.10% to 142.61.

Every trading day was upwards for the market as monitored through the ASI based on weighted relative capitalisation.

On Monday, January 7, the ASI rose by 0.32 points to 137.35 then followed with 1.52 points more the next day before growing further by 0.44 points to 139.31 by Wednesday.

On Thursday, the ASI leapt by all week high of 2.10 points to 141.41 before closing Friday at 142.61, up 1.20 points.

The Friday final rally was driven by 18 price gains and 14 drops with Safaricom rising by Ksh 0.40 per share to round up five consecutive days of gain 

Kenol Kobil led the gainers on Friday with Ksh 1.65 per share rise as take over offer by Rubis Energie made it more attractive than hitherto. Thus. Kobil thus closed the week 10.32% up .

Kobil recorded deals for shares worth Ksh 42m during the week with Friday alone accounting for exchange of 425,700 of its shares.

On the other hand, top price loss on Friday was Jubilee Holdings Ksh 4.75 per share decline as it closed at Ksh 415.25 after day high of Ksh 420 and low of Ksh 415 per share.

Friday trade dropped significantly to 10.747m shares traded in 949 deals worth Ksh 320.056m compared to 1181 deals involving 39.642m shares worth Ksh 802.398m.

This pushed all week traded volume to 97m shares worth Ksh 2.2bn, way ahead of 44m shares traded for Ksh 1 bn the previous trading week.

Safaricom led traded volume and value with deals for 59m shares valued at Ksh 1.3bn at between Ksh 21.30 and 24.60 per share out of which Friday was responsible for sale of leading 4.875m shares.

At the bond market, number of deals hit a new low on Friday as only 35 deals were struck for Ksh 1.366bn worth of bonds compared to Ksh 2.167bn in 79 deals on Thursday.

However, all week traded value came to Ksh 9.98bn, more than twice the Ksh 3.9bn recorded previously.

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