FEB 26, 2019: NAIROBI: STILL INCHING UP

The All share index at the Nairobi Securities Exchange moved up more cautiously on Tuesday February despite more price changes and wider margins when compared to Monday.

On Monday, the ASI closed 0.67 points up despite Ksh 1.25 per share being the top gain as 33 price changes were recorded.

Come Tuesday, the ASI rose by only 0.20 points to 155.23 despite 37 price changes with top gain being Ksh 30 per share recorded by pace setting Limuru Tea.

Limuru found and closed at Ksh 580 per share as against Ksh 550 on Monday. Indeed, it was a day the market was more optimistic about the agric sector as, apart from Limuru, Williamson Tea gained Ksh 4 per share and Sasini topped up with N1.05 per share although Kapchorua Tea lost Ksh 0.50 per share.

Other major price gainers were  British American Tobacco. Up Ksh 6 per share; and Jubilee Holdings with Ksh 4 per share top up.

Amongst the price losers, the pace was set by Standard Chartered Bank with Ksh 5.50 per share drop to close at Ksh 195 per share after slipping through day high of Ksh 200 to low of Ksh 190 per share compared to Ksh 200.50 previously.

It was followed by Diamond Trust Bank as it shed Ksh 1.75 per share and East African Breweries down Ksh 1.50 per share.

Traded volume virtually dried up as only 8.716m shares were traded in 924 deals worth Ksh 203.075m compared to 1225 deals for equally low 10.265m shares valued at Ksh 260.006m on Monday.

Traded value and volume recorded by Safaricom, though still the pacesetter, shrunk to Ksh 89.7m from 3.376m shares traded at between Ksh 26.30 and 26.65 per share. This was 43.39% of total traded value.

The banking sector accounted for 48.04% or Ksh 98m with Equity Group recording exchange of 1.318m shares for Ksh 54m at between Ksh 41.25 and 41.50 per share.

Traded value at the bond market grew a little to Ksh 1.9bn in lower 47 deals compared to 84 deals worth Ksh 1.2bn on Monday.

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