Five more market intermediaries report losses amid market slump

Four more brokerages and investment banks on Monday reported losses in the first six months as revenue from stock sales at the Nairobi Securities Exchange (NSE) contracted amid a lengthy market slump.

NSE 20 share index is down nearly 15 per cent in the year to date. Brokers are paid commissions as a percentage of the traded price such that higher stock prices and turnover increase their income.