Capital Markets

Kestrel, Rencap top NSE stockbrokers’ 2016 market share

The top six market intermediaries accounted for 79 per cent of the Sh294.4 billion trade. PHOTO | BD GRAPHIC
The top six market intermediaries accounted for 79 per cent of the Sh294.4 billion trade. PHOTO | BD GRAPHIC 

Kestrel Capital and Renaissance Capital tightened their grip on the equities market last year as foreign trading desks continued calling the shots in a bearish bourse.

Kestrel ended the year with a 20.9 per cent market share, up from 16 per cent in 2015 while Rencap grew its share to 16.7 per cent from 13.6 per cent.

The top six market intermediaries accounted for 79 per cent of the Sh294.4 billion trade — reported as a turnover of Sh147.2 billion in actual cash changing hands — whereas in 2015 they had accounted for 76.5 per cent of traded volumes.

Smaller stockbrokers, who do not enjoy the access to the foreign trades, paid the price as foreign investors accounted for 67 per cent of total trading.