FEB 8, 2019: NAIROBI: FIRM AS A ROCK.

More than 2 weeks of daily growth came to a halt on Thursday February 8 2019 at the Nigerian Stock Exchange in style: The All share index closed firm as a rock. No increase, no decrease at 160.44.

In the end, the ASI ended the week up 5.92 points or 3.83% as against 8.04 points or 5.49% increase the previous week.

Not to worry, the surge this time came from traded value  as it hit Ksh 1.519bn in 1209 deals for 50.124m shares compared to 1422 deals involving 44.143m shares worth Ksh 967.420m.

This brought all week traded volume to 176m shares worth Ksh 6.3 bn compared to 195m shares exchanged for Ksh 6 bn the previous week.

The ASI closed firm despite 15 price drops and 19 gains. There were even relatively very major price changes like Jubilee Holdings leading  leap Ksh 13 per share to Ksh 439.50 compared to Ksh 426.50 per share previously.

There were other major price gains as well like Ksh 6 per share up by East African Breweries, Standard Chartered Bank's Ksh 3.50 per share rise and Nation Media's Ksh 3 per share increase.

On the price losers side, Williamson Tea set pace with Ksh 6 per share drop to Ksh 140 per share after hitting day high of Ksh 142 compared to Ksh 146 per share previously.

It was trailed by Sasini plc in the same agric sector with Ksh 1.90 per share decline. Both would not have been depressed enough to drag the ASI down, the balancing to firm closing most likely was helped by Ksh 0.20 per share decline.

On the other hand, the leap in trade, notably traded value, on Friday was due to offload of 15.2m shares in Equity Group which brought its all week volume to 21.9m worth Ksh 928m at between Ksh 40.95 and 43.50 per share.

Safaricom however led the day's volume with 22.906m of its shares traded bringing all week total to 85.7m shares worth Ksh 2.2bn.

Other major traded volumes for the week include Kenya Power & Lighting with 10m shares traded for Ksh 50.6m while closing up 9.91%; KCB Group's 9m shares valued at Ksh 387m while ending up 6.6% and British American Tobacco's N1.6bn traded value for 2.6m of its shares. 

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