APRIL 12, 2019: NAIROBI STOCK MARKET DOWN 1.01% DESPITE RALLY

In spite of a two day rally on Thursday and Friday, the Nairobi Securities Exchange still closed down when compared to previous week.

On Friday, the All share index rose by 0.38 points to 157.91 after 0.09 points rally on Thursday but both did not stop the ASI from being 1.61 points or 1.01% down on previous week's closing 159.52.

Yet the damage was actually done in  3 days out of the 5  day week. Earlier the ASI had gone down by 0.28 points on Monday, then by 0.85 points on Tuesday before Wednesday's decline by 0.19 points.

The Friday rally was low key and came about as 20 price gains and 14 drops were recorded most of them marginal.

Kapchorua Tea recorded the lone major price decline with Ksh 5.50 per share tumble to close at Ksh 64 per share after day high of Ksh 69.50 and low of Ksh 63 per share.

No other price drop was up to Ksh 0.50 per share whereas  there were 2 major price gains. East African Breweries closed at Ksh 209.75 per share , up Ksh 1.75 on Thursday's Ksh 208 per share after hitting day high of Ksh 210 per share while 84,100 shares were being traded.

It was followed by Standard Chartered Bank with Ksh 1 per share gain  and that was all for major price gains for the day.

Compared to previous week, traded volume at 80m shares was slightly higher than previous week's 78.7m shares but lower priced equities were involved hence traded value was Ksh 2.3bn as against Ksh 2.7bn previously.

As usual, Safaricom led through the week ending with deals for 45m shares worth Ksh 1.2bn or 54.53% of all week total. The shares were traded at between Ksh 27.05 and 28 per share, and Friday accounted for 6.692m.

The banking sector contributed 27.52% or Ksh 643m to traded value for the week with KCB Group pacing with Ksh 299m from 6.6m shares traded at between Ksh 44.60 and 44.95 per share.

It was followed by  Equity Group with Ksh 260m and Barclay's Bank in which 2m shares were exchanged for Ksh 2.5m.

The manufacturing sector too was active as usual chipping in Ksh 295m or 12.6% mainly from East African Breweries 1.4m shares worth Ksh 293m at between Ksh 205 and 210 per share.

At the bond market, traded value ended at Ksh 13 bn, down on previous week's Ksh 16 bn.

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