The Nairobi Securities Exchange (NSE) witnessed an impressive growth spurt in market capitalization during Q1 2024, soaring to a substantial KSh 1.8 trillion, according to the latest Capital Markets Authority (CMA) report.
This surge, representing a robust 22.79 percent increase from the previous quarter, highlights the intensified trading activities across the exchange. Notably, NSE equity turnover spiked by an impressive 61.56 percent to KSh 19.07 billion, with the volume of shares traded also seeing a notable uptick of 35.13%, totaling 1,097.33 million shares.
In tandem with this growth, key indices reflected positive movements. The NSE 20 Share Index climbed by 16.74 percent, reaching 1,752.43 points, while the NSE All Share Index surged by 22.78 percent, closing at 113.09 points by the end of Q1 2024.
While no significant new listings or offerings were observed in the equities market, ongoing activities such as Nation Media Group’s share buyback program continued to draw attention. Scheduled to conclude by July 2nd, 2024, the program aims to repurchase up to 10% of the company’s shares or 19 million shares at a price range between the par value and KSh 20 per share.
In the bond market, turnover witnessed an exceptional surge, jumping by 232.56% to KSh 458.20 billion traded in Q1 2024, compared to KSh 137.78 billion traded in Q4 2023.
The report underscores the resilience and vibrancy of the Kenyan capital markets, reflecting positive investor sentiment and confidence in the economy’s prospects. Stakeholders remain optimistic about the future trajectory of the NSE as it continues to evolve and adapt to emerging trends.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
30th April, 2024
Article and News Disclaimer
The information provided on www.serrarigroup.com is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
www.serrarigroup.com is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
In no event will www.serrarigroup.com be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.
The articles, news, and information presented on www.serrarigroup.com reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.
The content on www.serrarigroup.com may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, www.serrarigroup.com takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.
By using www.serrarigroup.com, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website.
www.serrarigroup.com, reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.
Serrari Group 2023
