Africa-Press – Kenya. Trading at the Nairobi Securities Exchange began on a four-year low on Tuesday, the first day the year when 904,000 shares were traded, signalling low confidence by investors.
The value of the shares dropped to Sh12.5 million, compared t0 2023 when the bourse opened trading with 1.73 million shares equivalent to Sh33.8 million.
It’s the first time in four years that NSE began with less than a million shares trading. In 2021, 8.7 million shares were traded worth Sh242 million, while 2022 saw the number rise to 17.6million shares valued at Sh630 million.
According to market data, this year the exchange closed on Tuesday, January 2, 2024 with only Sh12.5 million turnover.
The exchanges top indices recorded mixed performances with The NSE 20 share Index losing 7.68 points to stand at 1508.83. The All Share Index NASI edged down 0.13 points to close at 91.97.
However, the NSE 25 Share Index gained 7.07 points to settle at 2387.30. The NSE 10 share index added 3.72 points to stand at 911.24.
“The Bourse opened the year 2024, with a total of 904,000 shares valued at Sh12.5M, against 2.6M shares valued at Sh41.9M posted on the last trading day of 2023,” CMA said in its daily brief.
The Banking Sector had shares worth Sh7.9M transacted, which accounted for 63.34 percent of the day’s traded value.
Standard Chartered Bank Kenya was the day’s main feature with 20,000 valued at Sh3.2M changing hands at between Sh160.25 and Sh164.00.
The Co-operative Bank of Kenya edged down 0.44 percent to Sh11.35 with shares worth Sh1.7M transacted.
KCB Group closed the day on a 0.23 percent upward trajectory to Sh21.95 on a volume of 54,000 valued at Sh1.2M.
According to NSE, Safaricom actively moved 176,000 shares valued at Sh2.4M changing hands at between Sh13.65 and Sh13.95; this represented 19.30 percent of the day’s traded value.
After suffering greatly in 2023 due to the departure of foreign investors, listed shares at the Nairobi Securities Exchange (NSE) are expected to rebound in 2024. Fixed income securities are also considered asset classes to monitor in the upcoming year.
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