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Top 5 firms raise their share of NSE wealth to 67 percent
Since 2019, foreigners have largely remained bearish on smaller markets, largely due to a flight to the safety of developed markets amid global shocks such as the Covid-19 pandemic and the Russia-Ukraine war.
The share of investor wealth concentrated in the five largest companies at the Nairobi Securities Exchange (NSE) rose in the second quarter of the year as blue chip stock prices rebounded on increased foreign investor demand.
Latest market data shows that these large firms —Safaricom, Equity Group, EABL, KCB Group and Standard Chartered Bank Kenya— have a collective market capitalisation of Sh1.75 trillion, accounting for 67.6 percent of the NSE’s total valuation of Sh2.59 trillion.
