APRIL 3, 2019: NAIROBI SECURITIES EXCHANGE STILL RALLYING BUT...

The Nairobi Securities Exchange once again closed positive as the Ghana Composite Index ended at 160.08 up 0.34 points but it remains essentially a market that could do with more shares to trade.

There is also another but to the continued rally: Price drops on Wednesday were 23 compared to 15 gains which is quite a different hint from Tuesday's 19 apiece.

The 15 that drove the GCI upwards were led by British American Tobacco which rose Ksh 12 per share to close at Ksh 550 per share as against Ksh 538 previously but while only 400 shares were exchanged.

Other major price gains were Bamburi Cement with Ksh 5 per share increase; and Crown Paints' Ksh 1.75 per share

On the other hand, decline was paced by Limuru Tea which found and closed at Ksh 500 per share, down a whopping Ksh 50 per share.

Other major drops were Ksh 1 per share each decline by I &M Holdings  and BOC Kenya.

Most sectors of the equity market that were still dry although the Manufacturing sector joined Banking and Telecommunications as most active ones.

In all 899 deals were sealed for 11.216m shares valued at Ksh 486.472m compared to 1075 deals involving 32.348m shares worth Ksh 1.215bn on Tuesday.

Equity Group paced traded volume with 3.341m shares worth Ksh 145m at between Ksh 43.20 and 43.85 per share

In the same banking sector KCB  Group, down 1.13%, recorded 1.142m shares valued at Ksh 51m and Cooperative  bank chipped in Ksh 11m for 458,700 shares traded. Hence banking traded value came to Ksh 223m or 45.93% of the total

Safaricom recorded deals for 2.479m shares worth Ksh 69.7m while closing firm.

On the other hand the manufacturing sector accounted for Ksh 170m traded value mainly as East African Breweries closed with 807,300 shares traded at between Ksh 208 and 212 per share while closing up Ksh 0.50 per share

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