NSE Fortunes Slumped By Ksh420 Billion In 2018 – Survey
2018 was not a good year for the Nairobi Stock Exchange (NSE) as it lost Ksh420 billion comparison to 2017 proceeds, mainly due to a decline in the investors’ participation at the bourse.
According to the 2019 Economic Survey figures, all the market indices declined except the number of deals, the total value of shares traded and fixed income securities market which increased marginally.
The decline is thought to have been as a result of the net foreign portfolio outflow in 2018 due to favourable investment environment in the US and other countries.
The total bond turnover increased from Ksh429 billion in 2017 to Ksh558 billion in 2018.
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“Equities market capitalisation reduced by 16.7 per cent to Ksh2.102 billion in 2018. Total bond turnover increased from Ksh429 billion in 2017 to Ksh558 billion in 2018,” the report says.
Other market indices such as the NSE 20 Share Index declined by Ksh729 billion while the market capitalisation declined by 24 per cent to Ksh2.83 trillion in 2018 compared to Ksh3.71 trillion in 2017.
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