In Brief

Foreign investors net sellers at NSE

Foreign investors were net sellers at the start of this week’s trading, recording net outflows of Kes3.71 million on Monday. This marked a significant contrast compared to close of trading last week when they recorded net outflows of Kes32.99 million.

The change in foreign investment patterns could be indicative of their response to evolving market conditions and economic factors both locally and globally.

The Nairobi Securities Exchange (NSE) saw the equities market turnover suffer significant decline of 26.13 percent. The turnover fell from Kes84.85 million to Kes62.67 million, signifying a substantial reduction in trading activity.

This downturn in turnover could be attributed to various factors, including changes in investor sentiment, economic conditions, and global market trends.

Despite the decrease in market turnover, benchmark indices on the NSE displayed a somewhat positive trend. The NASI (NSE All-Share Index) recorded a modest gain of 0.34 percent, the NSE 10 index increased by 0.24 percent, and the NSE 20 index rose by 0.19 percent. These gains brought the closing values of these indices to Kes95.54, Kes953.61, and Kes1511.65, respectively.

However, it’s important to note that these positive movements only partially offset the year-to-date performance, which remained negative at (25.05) percent for NASI and (9.81) percent for NSE 20. These figures underscore the continued challenges gripping the equities market.

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