The Nairobi Securities Exchange (NSE) saw a loss of Sh24.45 billion in investor value in January, which is a result of the bourse’s overall valuation being impacted by the concentration of Safaricom shares in comparison to other firms.
The NSE market capitalization ended at Sh1.961 trillion, down from Sh1.986 trillion at the year’s beginning.
Despite anticipation of dividends and better earnings when blue-chip companies report their full-year results, the fall in wealth in the first trading month of the year carries on the multi-year gloomy trend.
The market’s performance in January coincided with Safaricom losing Sh30.04 billion, although the effect was lessened by the gains in investor wealth at other big companies and in the banking sector.