Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


NSE resumes trading after two-day election break with stocks holding steady

NAIROBI, Kenya, Oct 27 – The Nairobi Securities Exchange has opened trading a day after a repeat of the presidential election with most stocks holding steady.

NSE Chief Executive Geoffrey Odundo says domestic institutions and foreign investors have continued to show interest in the market.

“A lot of investors are still waiting how matters will progress on the political front but this is a stark difference from the September 1 where the market went down immediately after the ruling,” says Odundo.

The market reportedly lost over Sh100 billion in paper value after the Supreme Court canceled the presidential election results and ordered IEBC to conduct a fresh one in 90 days, which the commission organised to be held on 26 October.

Odundo, however, says that if the political risk heightens, investors are likely to hold back making crucial decisions.

The shilling, in the meantime, gained marginally trading at 103.60 against 103.80 to the dollar due to inflows from corporate and NGOs amidst little demand for foreign currency locally.

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


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, 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...