APRIL 23, 2019: LOW INTEREST PERSISTS AT NAIROBI STOCK MARKET

Relatively low investors interest at the Nairobi Securities Exchange persisted on Tuesday April 23, 2019 after the easter holidays.

The number of deals struck once again fell below 1000 considered average. It closed at 943 making it 3 consecutive trading days below after almost 2 weeks run was punctuated on Tuesday last week.

Traded volume continued to be fairly low too although on Tuesday there was an increase to 14.556m shares valued at Ksh 530.414m compared to 10.680m units worth Ksh 429.614m on April 18, 2019.

So dry in fact that between banking sector and Safaricom above 90% of traded value was accounted for.

The banking sector was responsible for Ksh 372m traded value or 70.23% with KCB Group leading the sector and market as 6.992m of its shares were exchanged for Ksh 314m at between Ksh 44.80 and 45.20 per share.

Equity Group also chipped a bit with deals struck for 1.028m shares worth Ksh 43m while Cooperative Bank, down 1.41%, recorded 432,600 shares traded for Ksh 6m.

Safaricom did not pace volume as it used to closing with just 4.287m shares exchanged for Ksh 119m at between Ksh 27.65 and 28 per share.

Many sectors were dry especially the Agric, Energy and Petroleum and construction sectors.

The All share index, however, rose by 0.36 points to 158.65 amidst 19 price gains and 21 drops.

The price drops were not only more, top 5 also contained wider margins of change. Top of the league was British American Tobacco, ex dividend, which shed Ksh 19 per share to close at Ksh 525 per share compared to Ksh 544 previously.

It was followed by Standard' Chartered Bank with Ksh 2.50 per share;  Crown Paints down Ksh 2 per share; Diamond Trust Bank down Ksh 1.50 per share and Ksh 1 per share drop by Williamson Tea.

On the other hand, Kapchorua Tea paced price gains with Ksh 5.50 per share to close at Ksh 65.50 per share after hitting day high of Ksh 66 and low of Ksh 63 compared to Ksh 60 per share on April 18, 2019.

Close to it, East African Breweries topped up with Ksh 4.75 per share with Stanbic Holdings placing 3rd with Ksh 1 per share increase.

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