The Nairobi Securities Exchange (NSE) continues its strong market rally, boosting investor portfolios by KSh 137 billion over two months. This surge is driven by gains in key sectors such as investment, insurance, energy, and construction. The NSE's CEO, Frank Mwiti, aims to attract 9 million active retail investors to further revitalize the market.
The Central Bank of Kenya's decision to lower interest rates from 13% to 11.25% has also drawn investors to the equities market. A stable shilling and improved earnings have bolstered confidence, despite foreign institutional investors maintaining a net selling position of KSh 2.2 billion year-to-date, slightly less than the KSh 2.3 billion recorded in the same period in 2023.
The investment sector leads with a 51.3% median gain year-to-date, while the agricultural sector experienced losses due to supply chain issues. Top gainers include Trans-Century (232.5%) and Home Afrika (142.9%), while Africa Mega Agricorp (-52.1%) was among the top losers.