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Markets

NSE daily turnover plummets by 80pc

A Nairobi Securities Exchange (NSE) staff monitors electronic trade. FILE PHOTO | NMG
A Nairobi Securities Exchange (NSE) staff monitors electronic trade. FILE PHOTO | NMG 

Market turnover at the Nairobi Securities Exchange fell by 80 per cent on Monday as foreign investors recorded reduced activity.

Investors traded a mere 7.9 million shares, pulling the sales down to Sh141 million from Sh687 million recorded on Friday. There were 29 million shares traded on Friday.

The fall coincided with reduced activity by foreign investors, meaning the market missed bulk trades that normally drive turnover.

“Foreign participation declined as their total market purchases stood at a mean of 37.5 per cent while their local counterparts’ buys averaged 62.4 per cent of the total turnover,” said Kingdom Securities in a daily market report. The benchmark NSE 20 share index fell by 15 points to close at 3,229 points.

Most blue chips recorded limited movement, with Safaricom #ticker:SCOM and Equity Holdings #ticker:EQTY unchanged at Sh20.25 and Sh32.75 respectively.

The top gainers were Liberty Holdings #ticker:CFCI and National Bank #ticker:NBK up 9.6pc and 7.1pc respectively.

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