FEB 22, 2019: NAIROBI: RASH OF DROPS

There was a rash of price drops on Friday at the Nairobi Securities  Exchange that resulted in the All share index closing the week 2.93 points or 1.86% down.

There were 31 price drops against only 11 gains and the ASI finally closed the day at 154.36 compared to 157.29 on previous Friday.

There were a rash of major price decline too as about 10 equities posted above Ksh 1 per share.

The losers were paced by Williamson Tea with Ksh 9 per share decline to close at Ksh 146 compared to Ksh 155 per share on Thursday.

Closely trailing were Bamburi Cement down Ksh 8 per share; BOC Kenya with Ksh 6.50 per share drop; and  British American Tobacco down Ksh 4 per share.

Other major price drops were Jubilee Holdings' Ksh 3 per share decrease; Standard Chartered Bank with Ksh 1.75 per share decline; Standard Group's Ksh 1.30 per share, Ksh 1.25 per share drop by I&M Holdibgs; Total Kenya's Ksh 1.05 per share decline and Ksh 1 per share decline in Diamond Trust Bank.

In contrast, East African Breweries closed the day at Ksh 3.75 per share to lead price gains. EAB  hit day high of Ksh 199.50 per share and a low of Ksh 195 before closing at Ksh 198.75 per share compared to Ksh 195 on Thursday.

Only 2 equities followed its trail above or at Ksh 1 per share: Unga Group and Car & General PLC.

Unga added Ksh 1.60 per share to close at Ksh 38.40 per share after touching high of Ksh 39 per share and low of Ksh 37 as against Ksh 36.80 per share previously.

Traded volume was not that high within the week hence in the end, 72.5m shares were exchanged for Ksh 2.3bn compared to 89m shares traded for Ksh 2.3bn on Thursday.

Safaricom as usual, was the most active with 30.9m shares traded for Ksh 807m followed in traded value terms by Equity Group's Ksh 377m and EAB with Ksh 358m.

In volume terms, Safaricom was trailed by Kenya Power & Lighting with 9.6m shares exchanged; Equity Group's 8.9m and KCB in which 5.3m share traded within the week.

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