FEB 15, 2019: NAIROBI: INDEX DOWN 1.96%

In the week ended Friday February 15, 2019 the Nairobi Securities Exchange ended with 1.96% or 3.15 points decline in the All share index despite growing in 3 out of 5 trading days.

The ASI ended the week at 157.29 on Friday as 23 price drops including that of Safaricom and 18 gains were recorded thus adding to 1.43 points decline on Thursday.

Earlier, in the week, the ASI had either closed firm or rose rather marginally hence the 2 day sharp drops set the market back beyond previous week's closing.

The pressure down on Friday did not come from higher margin of decline but from higher number of price drops and Safaricom's Ksh 0.35 per share decline.

Top price drop was East African Breweries Ksh 9.50 per share as it closed at Ksh 210.25 per share after hitting day high of Ksh 222.75 and low of Ksh 210 compared to Ksh 219.75 per share previously.

In effect, EAB declined 4.43% in a week its 1.5m shares were exchanged for Ksh 338m with Friday alone accounting for 1.135m shares.

Other major price drops on Friday were Ksh 1 per share shed by Standard Chartered Bank, Nation Media and Jubilee Holdings.

Williamson Tea paced price gains with Ksh 3.50 per share on Friday to close at Ksh 151.50 per share after touching day high of Ksh 156 compared to low and previous day's Ksh 148 per share closing.

Other major gains were Stanbic Holdings Ksh 2.25 per share, and Ksh 1 per share gain by Bamburi Cement and BAT.

Traded volume took a dive on Friday to 9.407m shares from previous day's 18.193m but both traded value and number of deals did not follow in tow.

A total of 1138 deals were sealed on Friday worth Ksh 597.571m compared to 1070 deals valued at Ksh 517.511m previously.

Through the week, volume and traded value were down as well with 89m shares worth Ksh 2.9bn changing hands compared to 176m shares valued at Ksh 6.3bn in previous week.

Most active equities within the week were Safaricom with deals for 38m shares worth Ksh 1bn; BAT with Ksh 439m realised from exchange of 692,000 shares ( Friday alone accounted for 310,400) and KCB Group's Ksh 327m traded value from 7.4m shares traded.

Others were Equity Group in which 5.6m shares changed hands for Ksh 242m, of course EAB earlier mentioned and NIC Group in which 1.4m shares went for Ksh 54m.

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