America rate hikes push NSE to biggest fall in history

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Nairobi Securities Exchange (NSE) CEO Geoffrey Odundo. FILE PHOTO | DIANA NGILA | NMG

The value of shares at the Nairobi Securities Exchange (NSE) is on course to dip by the largest margin in history this year following rate hikes in the developed world and the Russian invasion of Ukraine.

The market capitalisation stood at Sh1.99 trillion at the close of trading on Thursday, down from Sh2.59 trillion on the first day of trading this year, translating to a loss of Sh597 billion.

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Note: The results are not exact but very close to the actual.