Connect with us

Hi, what are you looking for?

File image of Co-operative bank building


Local investors show confidence at the NSE as foreigners cash in

Investors notably bought into COOP which gained for the second session in a row this week.

NAIROBI, Kenya, Aug 1 – The Kenya Stock Market closed in red on Tuesday with the NSE All Share index posting the highest decline of 1.9 percent in the last two weeks after a six-month rally. 

Standard Investment Bank says foreign investors cashed out Sh560 million which is the highest single session net outflows in 2017, but local investors were actively buying Equity Bank and Co-op Bank which edged up 0.6 percent and 0.3 percent respectively.

Banks continued with their bullish trends with Equity turnover soaring 93.8 percent to Sh1.5 billion on increased foreign investor trading – participation that rose to 67.7 percent compared to 53.6 percent in the previous session.

Safaricom remained the most actively traded counter accounting for 36.4 percent of total market activity.

“After touching an all-time high in the previous session, the telco declined 3.1 percent weighed down by foreign investor profit taking,” SIB trading reported.

Foreign investors bought Stanbic Holdings Plc – recording the highest net inflows two sessions in a row – and Centum Investments Plc.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...