FEB 25, 2019: NAIROBI: CLOSE CALL BUT INDEX UP

It was a close finish for 17 price gains and 16 drops on Monday February 25, 2019 at the Nairobi Securities Exchange but the All share index ended 0.67% up at 155.03.

The gain margins in terms of Kenyan shillings were not high but Safaricom did close up Ksh 0.45 per share as it recorded deals for leading 4.925m shares exchanged for Ksh 130m at between Ksh 26.15 and 26.12 per share.

The lead gain was I & M Holdings Ksh 1.25 per share as it found and closed at Ksh 95 per share compared to Ksh 93.75 previously.

No other price gain crossed the Ksh 1 per share as Diamond Trust Bank trailed with Ksh 0.75 per share gain followed by Safaricom's top up.

In contrast, 4 price drops were each above Ksh 1 per share led by East African Breweries Ksh 3.75 per share decline to close at Ksh 195 per share. This is against Ksh 198.75 per share on Friday.

It was followed by Ksh 2.25 per share decline by Nation Media; Ksh 2.20 per share drop by Unga Group and Bank of Kigali's Ksh 1.85 per share decline.

There was marginal decline in both traded volume and value but interestingly, investors interest as expressed by number of deals struck was higher.

There were 1225 deals for 10.265m shares worth Ksh 260.006m compared to Friday's 990 deals through which 11.382m shares were exchanged for Ksh 270.685m.

Safaricom accounted for 50.12% of the traded value but the banking sector chipped in 36.68% or Ksh 95.5m.

The most active equity in the sector was KCB Group in which 1.26m shares were traded for Ksh 53m at between Ksh 42 and 42.50 per share.

Other major trades in the sector were by Equity Group as 559,800 of its shares were exchanged for Ksh 23m even while closing down Ksh 0.15 per share and Barclay's Bank in which 873,000 shares were traded for Ksh 10m.

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