FEB 14, 2019: NAIROBI: AT LAST INDEX DOWN

For a long while it looked like there was going to be continuous search for a peak by the All share index at the Nairobi Securities Exchange but that is now history because on Thursday February 14 2019 it finally closed down.

Twice while searching for a cap, the ASi had conceded only firm closing and ended up every other day.

However, on Thursday, it went down by 1.43 points to 158.85 on a day clearly dominated by 30 price drops including top weight Safaricom and only 10 gains.

Besides, amongst the gainers, it turned out only lead gainer, Bank of Kigali gathered above Ksh 1 per share gain. As it found and closed at Ksh 30.85 per share, BK rose Ksh 2.80 per share compared to Wednesday's Ksh 28.05 per share.

On the other hand, top price drop was Williamson Tea's Ksh 12 per share to close at Ksh 148 as against Ksh160 per share previously.

Other major price drops were Ksh 1.50 per share decline by both Diamond Trust Bank and and Stanbic Holdings; and Ksh 1 per share shed by British American Tobacco aside from Ksh 0.50 per share decline by Safaricom PLC.

There was drop in all trade indicators too as 1070 deals for 18.193m shares worth Ksh 517.511m was recorded compared to 1117 deals involving 21.652m shares valued at Ksh 752.865m on Wednesday 

Safaricom accounted for 62.1% of traded value with deals for 12.160m of its shares worth Ksh 321m being sealed at between Ksh 25.95 and 26.85 per share.

Closest to it was the banking sector as a whole with Ksh 132m or 25.61% chipped in led by Equity Group with deals for 1.219m shares worth Ksh 81m at between Ksh 42.50 and 43 per share.

At the bond market, business eased from recent days of above Ksh 4bn traded value to close at Ksh 2.6bn for the day.

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