Higher returns on bonds in advanced markets attracted foreign investors from frontier markets such as the NSE over the last year, as they view such securities as safe havens in times of global uncertainty.Īccording to the KNBS report an increase in shares traded did little to cushion the bourse from shedding its value. In the three months to June 2023, foreign investors pulled out Sh1.5 billion, a reduction compared to the Sh13.93 billion net outflow that was recorded in the first quarter, according to a report by Capital Markets Authority In the review period, the Nairobi bourse experienced turbulence due to a persistent investor sell-off in favor of more lucrative markets. The latest data contained in the third Quarter of the Gross Domestic Product Report released by Kenya National Bureau of Statistics shows that despite the drop, the number of shares traded recorded a rise. In the one year to September 2023, the total value of shares traded declined from Sh9.4 billion in September 2022 to Sh5.2 billion. A sustained investor flight in the past year has seen the Nairobi Securities Exchange lose Sh4.2 billion in share value traded at the bourse.
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