FEB 19, 2019: NAIROBI: PRICE DROPS OVERWHELM.

At the Nairobi Securities Exchange price drops clearly overwhelmed gains on Tuesday February 19, 2019, forcing the All share index down 0.43 points to 156.20 yet another day.

Decline has been a daily dose for 4 days but this time, it was in spite of Ksh 0.10 per share gain by Safaricom and because there were 25 price drops and 18 gains.

Besides, there more price drops above Ksh 1 per share than gains in that range. Bamburi Cement led the road down with Ksh 10 per share closing at Ksh 130 per share after touching Ksh 131 as against Ksh 140 per share on Monday.

It was followed by a rather crowded above Ksh 1 per share group paced by British American Tobacco with Ksh 5 per share and East African Breweries down Ksh 4.25 per share.

Others were Standard Chartered Bank with Ksh 4 per share decline; Nation Media, down Ksh 3 per share; Car & General which shed Ksh 2.35 per share; Sasini down Ksh 1.55 per share and Diamond Trust bank with Ksh 1.25 per share decline.

From the same sector with Bamburi, Crown Paints led gainers with rather modest Ksh 3 per share rise settled into at Ksh 83.75 per share after day high of Ksh 84.50 and low of Ksh 80.50 per share in contrast to previous day's Ksh 80.75 per share.

On its trail was Stanbic Holdings with Ksh 2.50 per share gain ; and Williamson Tea's Ksh 2.25 per share.

Traded volume dropped by more than 50% to 10.784m shares but traded value was only slightly down to Ksh 553.854m  in 1069 deals compared to 21.478m shares in 1193 deals for Ksh 569.036m on Monday.

At 2.413m shares, traded volume in Safaricom dropped drastically from Monday's 10.594m shares but it was still the day's highest per equity.Valued at Ksh 63m or 11.41% of traded value, the shares exchanged at between Ksh 26 and 26.50 per share.

Relatively high high volume of 312,000 shares of British American Tobacco traded at between Ksh 601 and 636 per share drove Manufacturing sector's contribution to 49.16% or Ksh 272m.

It was supported by East African Breweries  with deals for 366,100 shares worth Ksh 73.5m.

Banking as a sector chipped in 33.81% of traded value or Ksh 187m led by Equity Group with deals involving exchange of 2.389m shares for Ksh 100m at between Ksh 42.05 and 42.50 per share.

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