Finance

Kenya: NSE-listed stocks record $1.48 billion gains in January 2019

Monday, 04 February 2019 17:29
Kenya: NSE-listed stocks record $1.48 billion gains in January 2019

(Ecofin Agency) - Nairobi Stock Exchange-listed stocks recorded a gain of Ksh148.6 billion (about $1.48 billion) in January, according to data published by this market.

At the end of the said month, the market capitalization of this market was Ksh2,250 billion against Ksh2,101 billion in early January. This performance reduces the potential impairment of Ksh419 billion recorded in 2018.

This growth was supported by an improvement of the value of 35 listed firms out of the 61 present in the financial market.

Among the firms that recorded important growth include large groups like Safaricom, Commercial Bank and Equity Group, as well as East Africa Breweries Ltd, subsidiary of the Irish Diageo. 

The performance is two times positive because it was achieved amid a new terrorist attack in the country’s capital. Instead of stopping investors’ enthusiasms, this seems to have boosted their confidence in the market, which has stabilized since the last presidential election.

Idriss Linge



 
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