JAN 9, 2019: INDEX STILL UP AT NAIROBI SECURITIES EXCHANGE

The All share index at the Nairobi Securities Exchange is still having a good run on the back of Safaricom plc which closed up 3rd day this week on Wednesday January 9 2018.

Like in previous 2 trading days, Safaricom closed slightly higher on Wednesday going up by Ksh 0.30 per share and in spite of there being twice as many price losers as gainers, the ASI rose by 0.44 points to 139.31.

Indeed, not only were price gains fewer, margins of gain were smaller in Shillings terms. Top gain was Ksh 1.25 per share by Equity Group as it closed at Ksh 34.80 per share after hitting day high of Ksh 35.50 and low of Ksh 34 as against Ksh 33.75 per share on Tuesday.

All other gains were below Ksh 1 per share paced by Sanlam Ltd up Ksh 0.95 per share.

Noteworthy was the mini bullish feeling around investment equities as all 3 price changes recorded there were up led by Centum Investment with Ksh 0.75 per share gain.

In contrast, 4 of the price drops were above Ksh 1 per share with Williamson Tea in the agric sector leading with Ksh 2.25 per share decline as it closed at Ksh 146.25 per share after hitting day low of Ksh 146  and high of Ksh 149 per share as against Ksh 148.50 previously.

Kapchorua Tea and Total Kenya followed with Ksh 1.25 per share decline each  ahead of Sasini's Ksh 1.15 per share drop.

Trade picked up considerably as 1437 deals were struck for 32.649m shares worth Ksh 779.530m compared to lowly 395 deals for 5.604m shares valued at Ksh 154.007m on Tuesday.

The bulk was in the shares of Safaricom as it witnessed deals for 21.758m shares worth Ksh 485m at between Ksh 22.15 and 22.75 per share.

Four other equities had trade for above 1m shares: Kenya Power & Lighting closed with 3.694m shares changing hands for Ksh 14.8m while ending 1.72% down; Ken Kobil in the same energy and petroleum sector, witnessed deals for 1.644m shares worth Ksh 31m; Equity Group chipped in Ksh 43m as 1.243m of its shares were traded at between Ksh 34 and 35.50 per share while fellow bank, KCB Group ended with 1.002m shares traded for Ksh 37.4m.

However, Easy African Breweries had more impact on traded value as it recorded deals for 904,100 units worth Ksh 149m at between Ksh 165 and 170 per share.

Traded value picked up too at the bond market leaving investors interest still sluggish. A total of 32 deals were recorded valued at Ksh 2.936bn compared to 28 deals worth Ksh1.361m on Tuesday.

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