MAR 20, 2019: NAIROBI: STILL BOLD PRICE DISCOVERY BUT....

Prices discovery at the Nairobi Securities Exchange remained bold and sharp on Wednesday March 20, 2019 but unlike for Tuesday, the All share index closed up, not down.

The ASI rose by 1.33 points  to 160.29 as 15 price gains and 24 drops were recorded many relatively sharp and bold.

British American Tobacco set the pace for price drops with Ksh 13 per share decline while still ex- divdend.

It was folloqee by Kakuzi Ltd  with Ksh 10 per share decline to Ksh 300 per share compared to Ksh 310 on Tuesday; Bamburi Cement down Ksh 9 per share and I & M Holdings which shed 4.75 per share. 

Other major price drops were Sasini ltd's Ksh 1.55 per share decline; NIC Group's Ksh 1.05 per share; and Nation Media slide by Ksh 1.pee share.

On the other hand, the price gains were led by Kapchorua Tea which closed the day at Ksh 74.50 per share, up Ksh 6.50 on Tuesday's Ksh 68 per share.

It was trailed by Stanbic Holdings with Ksh 5 per share gain; Ksh 3.50 per share increase by East African Breweries and Standard Chartered Bank's Ksh 1.25 per share top up.

Traded volume dropped by more than 50% to 15.983m shares in 1104 deals worth Ksh 513.883m compared to 1141 deals for 36.321m shares valued at Ksh 957.346m.

Deals were scattered across sectors although Safaricom and banking still held sway. Safaricom's 3.771m shares were traded for Ksh 107m.

In value terms, East African Breweries topped that with Ksh 109m realised by investors from exchange of its 535,200 shares while closing 1.74% up.

The banks as a sector, chipped Ksh 245n or 47.76% of total traded value led by KCB Group as its 1.706m shares worth Ksh 76.5m at between Ksh 44.75 and 45 per share.

There were other major trades in the sector as well like Equity Group's 1.528m shares worth Ksh 65.8m; Cooperative Bank with deals recorded for 1.132m shares and NIC Group, down 2.49%, with deals for 1.068m shares worth Ksh 35.7m.

Ken Gen, in the energy and petroleum sector also recorded exchange of 2.9m shares for 16m while closing up.

At the bond market, there was a drop in traded value to Ksh 2.7bn from Ksh 3.485m on Tuesday.

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