JAN 23, 2019: NAIROBI: NO SHAKING, INDEX FIRM

For the first time since Henates monitoring of the market, the All share index at Nairobi Securities Exchange on Wednesday, January 23, 2019 closed firm at 145.24 clocked on Tuesday.


It had gone down 0.48 points on Tuesday as 28 price drops and 15 gains were recorded. On Wednesday, the ratio between the 2 was almost the same as 25 drops and 15 gains were recorded but the ASI closed firm.

Agreed, price change margins were not as high as Tuesday's. Indeed, on Wednesday, no equity went down by up to Ksh 0.50 per share while 5 closed up Ksh 1 per share and above.

Top gain was Williamson Tea's Ksh 3 per share rise as it found and closed at Ksh 147 per share from Tuesday's Ksh 144.

It was followed by East African Breweries, up Ksh 1.50 per share; Car & General up Ksh 1.25 per share ; Standard Group with Ksh 1.10 per share increase and Standard Chartered Bank up Ksh 1 per share.

Interestingly, leading decline was Sasini's Ksh 0.31 per share as it closed at Ksh 19.45 after touching day high of Ksh 19.60 and low of Ksh 19 compared to Ksh 19.10 per share on Tuesday.

Most likely then, the ASI did not move because Safaricom went down Ksh 0.05 per share, enough to keep the index firm since the gains, though relatively more, were of relatively low Ksh margins.

Trading took a dive though admittedly from the slide down on Tuesday. Compared to 30.942m shares the previous day, only 10.970m shares were traded on Tuesday in 994 deals worth Ksh 411.149m.

Come Wednesday, it dipped further to just 7.517m shares worth Ksh 215.209m although in higher 1044 deals.

The banks accounted for 47.76% of the traded value that is, Ksh 103m  led by Equity Group in which 1.265m shares were traded for Ksh 51m followed by KCB Group with deals for 1.119m shares worth Ksh 45m.

As single equity, Safaricom actually paced traded volume with deals for 2.265m shares worth Ksh 64m or 29% of total at between Ksh 23.05 and 23.45 per share.

Other major traded values were Bamburi Cement's Ksh 19m exchanged for 151,000 shares and Ken Kobil's Ksh 17m. Investors realised from trading 801,100 of its shares.

At the bond market, trading was low too as traded value came to Ksh 1.3bn.

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