This archive report was first published on 11 November 2021.
On November 22, 2021, the Nairobi Securities Exchange (NSE) will kick off day trading in Kenya, marking a significant milestone in the country's financial sector.
According to the NSE, day trading involves purchasing and selling a security within a single day or trading session, or multiple times over the course of the day.
The NSE Board has also approved an incentive structure that offers a discount on the second leg of the transaction, which will be levied at 0.114% compared to normal trades, which are levied at 0.12%.
Geoffrey Odundo, the chief executive officer at the NSE, expressed confidence in the market's performance, stating, 'We are confident of a bullish market performance going forward.'
The introduction of day trading is part of the NSE's strategic objective to enhance liquidity and attract more investors to the bourse.
With the NSE 25 Share Index hitting a 12-month high of 4,075 points in August this year, and a record market capitalization of Sh. 2.9 trillion, the market is expected to continue growing steadily.
