Foreigners Take Off From NSE With 3 Billion Shillings In September

The month of September was not a good one for the Nairobi Securities Exchange (NSE) after foreign investors exited.

According to stats, the exit of foreign investors is estimated to be 3 billion shillings, making it the third highest in 2018.

The highest exit of foreign investors was in February where the NSE went down by 5 billion shillings followed by the month of May where it slummed by 4 billion shillings.

This comes even as the NSE was ranked among the worst performing in Africa with the shareholders’ wealth represented by the market cap dipping 12.3 percent.

During the month, the NSE-20 dipped 22.5 percent, almost 100 points down compared to where it was during the same period in 2017. NASI slummed 14.2 percent followed by the NSE 25 with a drop of 14.3 percent.

Kenya Commercial Bank experienced the greatest outflow in September if about 2.4 billion shillings followed by Safaricom PLC with an outflow of 1.7 billion shillings and the East African Breweries Limited with an outflow of 1.1 billion shillings.

In September, the counters that ruled the top gainers’ table were Longhorn with 10 percent, tying at the same position with Sanlam Kenya. Others were Crowne Berger and Limuru Tea.

The losers during the month of September were Kenya Orchards which lost a whopping 82.9 percent from its price followed by Deacons with 43.8 percent. Uchumi Supermarket lost 35.7 percent.

As the month kicked off, NSE experienced delays in trade following delays that the bourse said had been occasioned by a fault in the trading system.

“The Nairobi Securities Exchange (NSE) has delayed commencement of trading activities due to challenges experienced at a dependent System of the Automated Trading System (ATS),” Said NSE in a statement.