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The annual event brought together various capital markets players and other stakeholders to an annual event aimed at raising funds toward various charitable causes/FILE

Kenya

Trading resumes at NSE after technical hitch

NSE says the challenges were experienced by a dependent System of the Automated Trading System (ATS) delaying commencement of trading activities/file

NAIROBI, Kenya, Oct 1 – Trading activity has resumed at The Nairobi Securities Exchange (NSE) following a delay in commencement of trading activities due to technical challenges.

NSE says the challenges were experienced by a dependent System of the Automated Trading System (ATS) delaying commencement of trading activities.

The revised Monday trading hours are 1.20pm to 4.30pm.

“The public is advised to take note of the revised trading hours. The NSE apologizes for any inconveniences caused,” the firm said.

During the third quarter of 2018, the equities market was on a significant downward trend, with NASI, NSE 25 and NSE 20 declining by 14.2 per cent, 15.6 per cent and 12.5 per cent respectively according to the latest data from Cytonn Investment.

Equities turnover declined by 32 per cent during the quarter to Sh31 billion Sh46 billion in June 2018, taking the Year to Date (YTD) turnover to Sh140 billion.

Last week, equities turnover rose by 50.5 per cent to Sh4.1 billion from Sh2.7 billion in the previous week.

Foreign investors remained net sellers, with a net selling position of Sh1.2 billion, which is a 48.1 per cent increase from previous week’s net selling position of Sh800 million.

“We expect the market to remain subdued in the near-term as international investors exit the broader emerging markets due to the rising interest rates in the US, coupled with strengthening US dollar,” says analysts at Cytonn Investments.

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