Will local investors save the NSE
Local investors took positions making up 62.2 percent of Monday’s trading at the NSE following weeks of exiting foreigners on dampened investor appetite.
According to Standard Investment Bank, foreign investors sustained their bearish stance at the bourse, recording net outflows of $830,000 (Sh83 million).
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Safaricom (Sh24.50) was down 1 percent, on foreign investor selling and was the most traded counter, accounting for 73.8 percent of total market activity.
Market activity was somewhat subdued; Equity turnover slumping 70.4 percent to $1.4m (Sh140 million).
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The benchmark indices posted diverse set of results, with the NASI posting its first decline in five trading sessions, down 0.6 percent in today’s session.
The NSE 25 also had a challenging day, down 0.4 percent, while the NSE 20 closed unchanged from the previous session.
