Serrari Group

Over the span of seven weeks, from February 15th to April 4th, 2024, the Nairobi Stock Exchange (NSE) has experienced a significant surge in trading activity, coinciding with a notable increase in investor wealth amounting to KSh 351 billion.

Market capitalization, a pivotal indicator of investors’ wealth, closed at Ksh 1.772 trillion on April 4th, 2024, compared to Ksh 1.421 trillion recorded on February 15th, 2024. This surge is attributed to the strengthening of the Kenyan shilling against the US dollar and positive market sentiment following successful bond issuances.

During this period, trading activity on the Exchange intensified, with equity turnover totaling KSh 15.8 billion and a substantial volume of 867.63 million shares changing hands, indicative of heightened investor interest.

The Nairobi All-share stock index, encompassing all securities listed on the NSE, has surged by an impressive 49% in dollar terms since the beginning of the year, rebounding from a downturn experienced in 2023.

In efforts to bolster market stability and performance, the Capital Markets Authority (CMA) unveiled its strategic plan, focusing on key areas such as customer base expansion, financial sustainability, and regulatory reforms to enhance market efficiency and transparency.

BlackRock Inc., a leading asset manager, recognizes the investment potential in Kenyan equities, citing stable political conditions, improving macroeconomic indicators, and attractive valuations with the market trading at a modest five times price-to-earnings (PE) ratio.

With growing investor confidence and the robust performance of the Nairobi Stock Exchange, Kenya’s capital markets are positioned for continued growth, offering promising opportunities for investors seeking exposure to emerging markets.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

9th April, 2024

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