Sharp Daily
No Result
View All Result
Wednesday, May 14, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Nairobi Securities Exchange celebrates remarkable Q1 performance

David Musau by David Musau
May 9, 2024
in News
Reading Time: 1 min read
Photo/Courtesy

Photo/Courtesy

Improved activity was noted in the Nairobi Securities Exchange during the first quarter of 2024, with market capitalization rising to KES 1.8 trillion due to increased investor confidence, buoyed by the stabilization of the Kenyan Shilling. After experiencing a decline last year, the Shilling rebounded, settling at an average of KES 133, compared to its low of KES 164 in January.

This positive currency performance had a ripple effect on equity markets, resulting in around 55% increase in the equity market return for the period January to March.

Trading volume also surged by 27.04%, with shares traded reaching 1.1 billion from 780.2 million. The market capitalization at the end of the first quarter rose to Kes 1.76 trillion from KES 1.43 trillion, reflecting the increased value of outstanding shares.

Despite a slight net equity portfolio outflow of KES 2.23 billion, down from KES 2.34 billion in the previous quarter, investor confidence remained strong, spurred by favourable market conditions and reduced outflows influenced by higher returns in foreign markets, particularly the US.

RELATEDPOSTS

NSE lifts Kenya Airways trading suspension following financial turnaround

January 6, 2025

NSE eyes bold step to trade SACCO shares

September 15, 2024

Foreign participation in the equity market slightly increased to 60.31%, attracting global institutional investors. Moreover, the concentration of market turnover in the five major bluechip companies declined, indicating investors’ willingness to diversify their portfolios.

The Nairobi Securities Exchange recorded a remarkable 57.14% increase in US dollar terms, according to the Morgan Stanley Capital International index (MSCI). Market volatility remained low across three key indices, and liquidity increased due to investor activity during the dividend declaration season. Kenya’s successful issuance of a USD 1.5 billion Eurobond further boosted confidence in the capital markets, attracting foreign investors back to the Nairobi Bourse and supporting efforts to deepen and enhance market performance.

Previous Post

Congolese con artist snared in audacious gold fraud scheme

Next Post

Why pensions governance should give retirees confidence

David Musau

David Musau

Related Posts

Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025
News

Leadership challenges at the University of Nairobi

April 24, 2025
News

Easter eggs and earnings: Growing your nest egg with CMMF

April 16, 2025
News

Geoffrey Ruku declares KES 377M net worth during CS vetting

April 15, 2025
News

Butere girls teacher accused of altering play script with political content

April 14, 2025

LATEST STORIES

How AGOA and EPZs can transform Kenya’s trade

May 14, 2025

Safaricom forecasts earnings boost as Ethiopian losses shrink

May 14, 2025

Why Kenya must rebuild it’s textile legacy

May 14, 2025

Structuring private equity deals in Kenya

May 13, 2025

Money market funds: Smart saving and investing in Kenya

May 13, 2025

Kenya in May: Safari, coastline & deals you shouldn’t miss

May 13, 2025

Public Health Spending expected to grow in line with ethical development goals

May 13, 2025

NBA: Knicks, Pacers, Timberwolves near conference finals

May 13, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024