Market Turnover at the Bourse Declines as Shilling Holds Strong Against the Dollar

By Juma Fred / January 12, 2018

Demystifying Short-Selling in Kenya's Stock Market

The Market Turnover at the Nairobi Securities Exchange declined to close the day on Thursday at USD 5.85 million or an equivalent of 603.8 million shillings as compare to the trading on Wednesday. This was 31.6 percent drop.

The NSE 20 declined 0.03 percent to close at 3,719.77 while NASI went up 0.25 percent to close at 174.20.

Foreign investors assumed a net buying position by accounting for 73.9 percent of total market purchases and 67.2 percent of total market sales.

The Kenyan shilling maintained gaining traction against the US Dollar by 0.3 percent from Wednesday’s level to 103.14. This was also an increase by 0.09 percent on a year-to-date basis.

The shilling also went up against the Sterling Pound by 0.04 percent from Wednesday’s level to 139.52. On a year-to-date basis, the shilling is down by 0.55 percent against the pound.

Against the Euro, however, the Kenyan Shilling weakened by 0.49 percent from Wednesday’s level to 123.70 with this being 0.34 percent lower on a year-to-date basis.

On the East African Community Markets, in Rwanda, the RSI and the RASI closed at 135.38 and 133.48 respectively while in Uganda, the USE ALSI rose 0.82 percent to close at 1,989.48 while the USE LSI held at 381.89.

Source: Genghis Capital

About Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. You can reach him on: (020) 528 0222 or Email: [email protected]

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