FEB 27, 2019: NAIROBI: STILL DRY

The Nairobi stock market once again closed with low trade on Wednesday, February 27  although traded value was almost double, thanks to deals in high priced British American Tobacco

There were only 934 deals involving 8.571m shares worth higher Ksh 405.551m as against 924 deals for 8.716m shares valued at Ksh 203.075m on Tuesday.

The swinger in terms of traded value was clearly BAT in which deals were recorded for 355,400 shares worth Ksh 600 and 609 per share.

BAT actually ended up also pacing price drop in the process with Ksh 8 per share decline to Ksh 608 per share after hitting day high of Ksh 609 and low of Ksh 600 compared to Ksh 616 per share on Tuesday.

The BAT trade made the manufacturing sector to contribute 53.4% of the day's traded value; a rare development since most trading statistics were normally dominated by Safaricom or the Banking sector.

BAT led 28 price losers to depress the All share index to 154.59 by 0.64points.

Other major price drops include Ksh 4.50 per share by East African Breweries; Ksh 2.25 per share by I&M Holdings ; Diamond Trust Bank's Ksh 1.75 per share decline; Ksh 1.70 drop by NIC Group and Sasini's Ksh 1.35 per share decrease.

The gainers group coming to only 15 was not that crowded with major price changes. The lead gain was by Williamson Tea as it found and closed at Ksh 155.50 per share, up Ksh 5.50 on Tuesday's Ksh 150 per share.

It was trailed by Standard Chartered Bank with Ksh 4 per share and Crown Paints which closed up Ksh 3 per share.

Top traded volume was by Safaricom with 4.048m shares worth Ksh 107m at between Ksh 26.30 and 26.20 per share as it closed the day Ksh 0.05 per share up.

The banks chipped in only Ksh 61m or 15.04% to total traded value with KCB Group pacing with 793,500 shares exchanged for Ksh 33m at between Ksh 41.50 and 42.20 per share.

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