Investor’s wealth rises as NSE Index closes above 5000 points
NSE Trading Floor. Photo/FILE
What you need to know:
Increased trading on blue chip counters and a rise in share prices at the Nairobi Securities Exchange (NSE) pushed the bourse’s main index past the 5,000 psychological mark during Thursdays trading
The NSE 20 Share Index closed at 5,017.78 points, a level last seen between April and May this year when share prices were on an upward trend
Investor’s wealth– which is measured by market capitalisation - rose to Sh1.902 trillion
Increased trading on blue chip counters and a rise in share prices at the Nairobi Securities Exchange (NSE) pushed the bourse’s main index past the 5,000 psychological mark during Thursdays trading.
The NSE 20 Share Index closed at 5,017.78 points, a level last seen between April and May this year when share prices were on an upward trend driven by increased demand after the March 4 general election.
Investor’s wealth– which is measured by market capitalisation - rose to Sh1.902 trillion, indicating that the value of all listed companies has risen by Sh630.58 billion or by 49.57 per cent since the beginning of this year from Sh1.272 trillion at the beginning of this year.
Market activity was driven by foreign investor demand on counters such as Safaricom which released stellar results this week and Kenya Airways which is expected to post its half year performance next week.
Standard Investment Bank in their end of day report to investors said that Safaricom was the day’s top mover on active foreign investor trading, accounting for 41 per cent of total volumes.
Safaricom closed at Sh9.85 a 95.05 per cent gain since the beginning of this year, having opened at Sh5.05.
Kenya Airways has gained 8.33 per cent year-to-date having opened at Sh11.40.
“Kenya Airways was amongst the top movers today buoyed by foreign investor demand. The Airline extended its gains climbing further 9.3 per cent to Sh12.35, almost touching a 12 month high,” said SIB.
