Local investors at the Nairobi Securities Exchange (NSE) on Monday took up positions accounting for 49.4 percent of market activity.
Following the confirmation of Kenya’s first case of the coronavirus, panic set in and investors made the indiscriminate sale of shares Last Friday.
Trading on (NSE) was suspended towards the close of the market on Friday.
Temporary suspension of trading is an attempt to facilitate orderly transactions by giving investors time to think and see if they want to buy shares.
At the end of the market on Monday, Equity turnover stood at 1.5 billion shillings ($9.7 million) compared to a previous 1.2 billion shillings ($ $9.5 million).
Market capitalization stabilized at 2 Trillion shillings ($19.3 billion)
The NSE’s trading activity came to a close with the NSE 20 share Index at 2057.96.
“It is impressive to see local investors exude confidence in the market and take up more positions.The increased local investor participation and continued trading inflows from the international markets is evidence of the attractive valuation of stocks trading on the Exchange,” said Geoffrey Odundo, the Chief Executive of NSE.
He said that the NSE will continue to ensure that the market operates efficiently during this period.
Kenya now has confirmed three cases of coronavirus.
President Uhuru Kenyatta on Sunday ordered the immediate closure of all public schools as well as suspended travel for all people coming into Kenya from any country with Covid-19.
JK/as/APA