The Nairobi Securities Exchange(NSE) recorded an increase in market capitalization by 22.79 percent to KSh 1,766.95 billion by the close of Q1 2024, up from KSh 1,439.02 billion in Q4 2023.
- CMA attributes this uptick to heightened trading activities, with the NSE equity turnover for Q1 2024 totaling KSh 19.07 billion, a substantial 61.56 percent increase from KSh 11.80 billion in Q4 2023.
- The volume of shares traded at the NSE increased by 35.13% to 1,097.33 million in Q1 2024 compared to 812.07 million in the preceding quarter.
- In Q1 2024, the NSE 20 Share Index increased by 16.74 percent to reach 1,752.43 points from 1,501.16 points in Q4 2023, while the NSE All Share Index also increased by 22.78 percent to 113.09 points by the end of the quarter.
In the first quarter of 2024, the equities market remained quiet with no Initial Public Offers(IPOs), additional offers, listings by introduction, rights issues, bonus issues, with suspended firms remaining Deacons East Africa Plc, Athi River Mining Cement Plc, Mumias Sugar Company, and Kenya Airways.
The only ongoing activity is Nation Media Group’s second share buyback program, announced in May 2023. NMG is seeking to repurchase up to 10% of their shares or 19 million at a price between the par value and KSh 20 per share. The program is expected to end by July 2nd, 2024.
In the bond market, the turnover was up by 232.56% to KSh 458.20 billion traded in Q1 2024, compared to KSh 137.78 billion traded in Q4 2023.
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