APRIL 2, 2019: NAIROBI: STILL WAXING STRONG

The Nairobi Securities Exchange is still waxing stronger. It closed Tuesday, April 2, 2019 up as All share Index rose by 0.75 points to 159.76.

This made it 3rd day upwards after closing up 1.81 points on Friday March 29 and by another 1.35 points on Monday, to start the new month and week.

The Tuesday rally was in spite of equal number of price gains and drops (19) and despite Ksh 0.10 per share decline by Safaricom.

The gainers were paced by Standard Chartered  Bank with Ksh 4.75 per share increase to Ksh 214.75 per share compared to Ksh 210 per share on Monday and after hitting day high of Ksh 215 and low of Ksh 212 per share.

It was followed by Nation Media up Ksh 1.75 per share and Ksh 1.25 per share rise by Crown Paints.

In contrast, British American Tobacco led price drops with Ksh 6 per share decline as it closed Ksh 538 per share as against Ksh 544 per previously.

The only other major price drop was recorded by Williamson Tea as it shed Ksh 1 per share.

Trading recovered strongly from Monday's low. All 3 market indicators more than doubled to 1075 deals for 32.348m shares valued at Ksh 1.215bn compared to 437 deals involving 11.493m shares worth Ksh 369.645m.

This time, the Banks set the pace for all as sectoral traded value came to Ksh 763m or 62.84% of market total.

The leader for the sector and the market as a whole was Equity Group Holdings in which 12.446m shares were traded for Ksh 536m at between Ksh 43 and 43.95 per share.

KCB Group, up Ksh 0.35 per share, also recorded deals for 4.626m shares to chip in Ksh 205m to the banking sector traded value just like Barclay's  bank in which 688,600 units were exchanged for Ksh 8m.

Safaricom settled for 2nd place after Equity Group with deals for 12.059m shares worth Ksh 339m at between Ksh 28 and 28.50 per share.

East African Breweries gained Ksh 0.50 per share while witnessing deals for 488,700 shares worth Ksh 102m at between Ksh 206 and 210 per share.

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