Money Markets
Bourse records slight rise in trading
NSE has been witnessing reduced activity from foreign investors since May as anxiety rose over the possible outcome of the referendum. Photo/FREDRICK ONYANGO
Posted Wednesday, August 11 2010 at 00:00
Diversifying
Analysts say foreign investors are diversifying into other African markets such as Nigeria, hence the decline in their share of the local market.
Players see the market remaining on a steady recovery path although there are also expectations that some profit-taking will lead to a dip in share prices in the medium term.
Blue chip stocks with high average daily turnovers such as Safaricom, East Africa Breweries, KCB Bank, Equity Bank, Mumias Sugar and Kenya Airways have remained the investors’ favourite picks.
This has seen foreign trades account for more than 50 per cent of the shares in the quarter ended June.
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