You Will Now Be Able To Buy And Sell Shares On The Same Day
KEY POINTS
Day trading is the practice of purchasing and selling a security within a single day or trading session or multiple times over the course of the day.
From 22nd November 20201, Kenyans will be able to buy and sell shares on the same day at the Nairobi Securities Exchange (NSE) after Capital Markets Authority (CMA) gave a go-ahead.
The NSE says the day trading is “part of the strategy to enhance market liquidity” and that it will help encourage other companies to list and in the process, better the economy.
Day trading is the practice of purchasing and selling a security within a single day or trading session or multiple times over the course of the day.
“To complement this milestone, the NSE Board has approved an incentive structure whereby investors who participate in day trade will receive 0.114 percent compared to the normal trade which is are levied at 0.12 percent,” said NSE in a statement.
According to Mr. Geoffrey Odundo, the CEO of NSE, the Day Trading will benefit local investors who have “previously lobbied for the activation of the intraday trading, as they seek to take advantage of intraday price movements to increase profit margins.”
Here is the full statement from NSE:
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