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Sh4.6bn foreign outflows jolt stock market rally
In the last three months, the majority of stocks that gained more visibility to foreign investors courtesy of listings on globally watched Morgan Stanley Capital International frontier market indices and the Financial Times Stock Exchange Russell Index have recorded double digit price gains.
Foreign outflows from the Nairobi Securities Exchange (NSE) have hit Sh4.67 billion over the last three weeks, as investors locked in profits gained in the recent blue chip price rally at the bourse.
The bulk of the net foreign sales were recorded last week at Sh2.96 billion, adding to the Sh527.3 million sold in the trading week ending September 12, and Sh1.17 billion in the five days to September 5.
