- Investors traded a total of Sh14.7 billion in November, up from Sh9.3 billion in October when the country held the repeat election amid protests.
- The main indices at the NSE also gained during the month, driven by rise in large cap counters such as Safaricom, which hit an all-time trading high of Sh28.50 last month.
- The surge has been largely aided by foreign investors who have been net sellers after withdrawing for most of the previous weeks.
Turnover at the stock market rose 58 per cent in November compared to October as the political tension in the country eased on the conclusion of the bitterly contested presidential poll.
Market data compiled by Standard Investment Bank (SIB) shows investors traded a total of Sh14.7 billion in November, up from Sh9.3 billion in October when the country held the repeat election amid protests.
The main indices at the Nairobi Securities Exchange (NSE) also gained during the month, driven by rise in large cap counters such as Safaricom, which hit an all-time trading high of Sh28.50 last month.
The largest stock at the NSE was up 7.8 per cent during the month.
“The Supreme Court ruling that unanimously dismissed the petitions challenging Uhuru Kenyatta’s win on October 26 brought, to a large extent, an end to the uncertainty caused by the political noise that has been suffocating economic activity in the country over the past few months,” said risk and research firm Stratlink Africa in its December markets bulletin.
“This was reflected in investor confidence that has fuelled bullish trends in the markets…which we expect will continue through the end of the year.”
The NSE 20 share index was two per cent up during the month, the All Share Index gained 6.7 per cent while the NSE 25 Share Index, which mainly tracks financial sector firms, gained 4.8 per cent.