NSE Index Rise as Shri Krishana, Kenya Re, Co-op Bank Rally
Nairobi Securities Exchange (NSE) All-share index (ASI) climbed on Tuesday, supported by investors’ appetite for Shri Krishana, Kenya RE, Co-op Bank, Sanlam and Eaagads stocks in the local bourse.
Equities nearly fully recovered from Monday’s losses on Tuesday, rising 0.6%. Pergamon, a Kenyan-based investment bank. NSE gainers chart includes positive price movement in Shri Krishana (5.5%), Kenya RE (5.4%), and Co-op Bank (4.7%). Others include Sanlam (4.5%) and Eaagads (3.6%).
Given the trading direction, the NSE Index rebound was driven by average gains of 1.0% across the Banking, Automobile, Insurance, and exchange-traded fund (ETF) sectors.
The firm said in its market update that value traded jumped 139.3% from KES 339.18 million to KES 808.41 million, as volumes traded doubled to 21.10 million shares.
The report stated that this was driven by increased activities in the telco giant, Safaricom, from 2.10 million to 8.58 million shares and in the Banking sector, from 3.19 million to 7.48 million shares.
Foreign activity further accelerated from 35.0% to 57.2%, reflecting a persistent net foreign outflow, though it slowed down. Safaricom emerged as the day’s top mover, with its price stabilising at KES 31.75 per share, despite stellar results.
Secondary bond value traded improved 59.7% from KES 4.05Bn to KES 6.47Bn as the number of deals doubled from 116 to 222 deals, led by FXD1/2022/25 paper, which traded 1.34 billion. NBET Lists Landmark N501.02bn Fixed Rate Bonds on FMDQ
