This archive report was first published on 17 October 2019.
The Nairobi Securities Exchange (NSE) witnessed a remarkable surge in trading activity, with market activity reaching a three-month high on 17th October 2019.
Equity turnover improved by a staggering 449% from Ksh362 million on 16th October 2019 to Ksh1.9 billion on 17th October 2019, marking a significant increase in investor appetite.
The NSE 20 share index also saw a notable rise, increasing by 20 points to close at 2456.34 points from the previous trading session of 2435.74.
Geoffrey Odundo, the NSE Chief Executive, attributed the improved trading performance to the enhancements made on the exchange's infrastructure, which supports the increased uptake of its products.
Mr. Odundo also highlighted the launch of the Derivatives Market and other products that offer investors a range of investable asset classes, positioning the NSE as the leading exchange in the region.
He expressed confidence that market performance will steadily improve for the remainder of the year and urged investors to take advantage of the discounted prices.
The NSE recently commissioned its upgraded Automated Trading System, which will support the diversification of trading securities.
The stock market was boosted by the sale of Equity Group Holdings shares, with turnover rising to Ksh1.98 billion on 51 million shares against 11.6 million shares valued at Ksh361 million posted the previous day.
The Banking Sector saw shares worth Ksh7 billion transacted, accounting for 88.80% of the day's traded value, with Equity Group Holdings being the main feature, with 40.9 million shares valued at Ksh1.5 billion changing hands.
Other notable performers included Diamond Trust Bank, which closed the day 1.77% higher, and KCB Group, which recorded a 3.99% gain.
