FEB 18, 2019: NAIROBI: 3RD DAY DOWN

After a rather phenomenal upwards shift throughout the best trading days of this year so far, the Nairobi stock market closed 3rd day down on Monday February 18, 2019.

The All share index went down 0.66 points to close at 156.63 in the wake of 29 price drops and 15 gains. The margins of change were in gainers favour but alas, number of decline was overwhelming, and to make matters worse, Safaricom eased as well.

Kakuzi ltd led the price losers with Ksh 10 per share decline to Ksh 320 per share compared to Ksh 310 previously.

It was followed by Bamburi Cement with Ksh 7.75 per share gain; BOC Kenya up Ksh 6.50 per share; Diamond Trust Bank's Ksh 2 per share gain and Williamson Tea rise by Ksh 1.25 per share.

From the opposite spectrum, the price losers were led by East African Breweries down Ksh 6.25 or 2.5% per share while recording deals for 229,400 shares worth Ksh 47m.

The only other above Ksh 1 per share drop was Stanbic Holdings Ksh 2.50 per share decline.

More shares were traded though during the day but missing were the high priced equities traded in volumes that beefed up traded value on Friday while volume tumbled.

In all 21.478m shares were exchanged in 1193 deals worth Ksh 569.036m compared to 1138 deals sealed for only 9.407m shares but worth Ksh 597.571m on Friday.

Safaricom, down N0.05 per share, was the most traded as 10.594m shares were exchanged for Ksh 276m or 48.51% of total trade at a price range of between Ksh 25.90 and 26.90 per share though closing down only very marginally.

The banking sector chipped in Ksh 215m or 37.88% of traded value paced by Equity Group accounting for Ksh 158m in deals for 3.748m at between Ksh 42 and 42.50 per share followed by KCB Group with 901,300 shares exchanged for Ksh 38.5m while closing down Ksh 0.65 or 1.58% per share 

Kenya Power and Lighting posted deals for 4.512m shares valued at Ksh 23m thus accounting for the bulk of the Ksh 24m or 4.30% contributed by the Energy and Petroleum sector to traded value.

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