NSE hits 34-month high on Safaricom, banks
Summary
The gains by Safaricom, Equity, EABL, KCB and Cooperative Bank stocks which now account for 81 percent of total investor wealth on the NSE have raised the bourse to levels last seen on June 18, 2018 when the market closed at Sh2.62 trillion.
The five stocks have gained a combined Sh210.21 billion between April 8 and yesterday, aiding the market rise.
Analysts linked the rally to positive investor sentiment following the lifting of month-long curbs on travel and longer night curfews in Nairobi and four surrounding counties to control the spread of Covid-19.
Friday May 07 2021
Foreign investors pull Sh2 billion from NSE
Thursday April 22 2021
Summary
Foreign traders have been net sellers for all the trading days of April to date as they cut exposure in equities in search of shelter in fixed income assets, including government bonds.
Market data from Capital Markets Authority and AIB-AXYS Africa show that foreign investors withdrew Sh976 million between January and March and Sh1.01 billion between April 1 and April 20.
Foreign investors have withdrawn Sh1.98 billion from the Nairobi Securities Exchange (NSE) since January, with more than half of the takeaways coming in this month alone, highlighting the impact of profit-taking and fresh Covid-19 control measures announced late March.