Serrari Group

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

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