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NSE recovery pushes market capitalisation to Sh2.4trn

An employee monitors trading at the Nairobi bourse. PHOTO | SALATON NJAU | NMG
An employee monitors trading at the Nairobi bourse. PHOTO | SALATON NJAU | NMG 

Investor wealth at the stock exchange on Thursday rose above the Sh2.4 trillion mark for the first time in a week as the bourse continued to recover from the slide seen last week on the back of political noise.

The Nairobi Securities Exchange (NSE) added a further Sh25 billion to market capitalisation, closing the day at Sh2.402 trillion, bringing the cumulative gain recorded this week to Sh53 billion.

The main NSE 20 share index was also up, adding 18 points to close the day at 3,805 points.

The gains were mainly on bank stocks, where eight out of the 11 listed lenders recorded improvement and Safaricom, which added 50 cents Thursday to close at Sh25.25.

“All benchmark indices closed in the green as local investors demand across major large caps continued,” said Standard Investment Bank.

The market is rallying in spite of the disagreement between political parties on the modalities of the repeat Presidential poll which is slated for October 17.

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