Foreign investors sold off Sh406 million worth of equities at the Nairobi Securities Exchange (NSE) in the last week of October 2020, sustaining the slump in the market that began with the outbreak of Covid-19. According to a market intelligence report by KCB Capital, foreign investors dominated trading activities at the bourse, with Safaricom, KCB, Equity Group and East African Breweries Ltd (EABL) emerging as the most traded counters. Safaricom was the most traded counter, with Sh274 million worth of shares changing hands, followed by Equity and KCB that recorded Sh131 million and Sh86 million in daily turnover respectively. Market consolidation continues to persist with the top five firms accounting for 77 per cent of market capitalisation, up from 73 per cent last year. CMA said it has put forward policy proposals to the National Treasury to help stimulate trading and boost investor confidence at the bourse.

Source: Standard Digital November 02, 2020 21:01 UTC