•The statutory fees accruing to the NSE on the second leg of a day trade were waived by 100 per cent for a period of 30 days in July.
•The extension is aimed at boosting market activity and creating an opportunity for investors to enjoy higher liquidity.
Image: NSE
The Nairobi Securities Exchange has extended the waiver of its fees on day trades for the rest of the year 2022.
The statutory fees accruing to the NSE on the second leg of a day trade were waived by 100 per cent for a period of 30 days in July.
The extension is aimed at boosting market activity and creating an opportunity for investors to enjoy higher liquidity.
All investors who currently have accounts at the Central Depository and Settlement Corporation Limited (CDSC) can now make several trades within a day, taking advantage of price changes, at a reduced cost.
“I urge retail investors to take advantage of this offer to increase portfolio returns,” Geoffrey Odundo, chief executive at NSE said.
Since the launch of day trading in December 2021, the NSE has recorded a total turnover of Sh3.8billion in buy and sell of day trades, representing an average of 2.20 per cent of the monthly market activity.
The markets continue to regain momentum following the conclusion of the country’s general election.
The NSE 20 share index has registered a 2.49 per cent increase this week, following the Supreme Court ruling.
Trade at NSE was vibrant on Monday after the Supreme Court affirmed President-Elect William Ruto's August 9 election win.
On that day, investors' paper wealth grew by Sh20 billion, with the market capitalisation hitting Sh2.17 trillion compared to Sh2.15 trillion the previous day.
The market, which opened with minimal activities in the early morning as investors waited for the apex court's ruling saw the main index, the Nairobi All Share Index (NASI) gain 5.93 per cent compared to Friday's trading.
The index closed the day at 143.37 points compared to 137.37 recorded at the opening of the market.
The NSE 20 share Index was up 7.96 points to stand at 1771.36 while NSE 25 Share Index added 38.39 points to settle at 3307.30.
As of Thursday, market capitalization stood at Sh2.23 trillion, which was a Sh6 million dip.
The Nairobi All Share Index (NASI) marginally lost compared to Wednesday's trading.
The index closed the day at 143.67 points compared to 144.05 recorded at the opening of the market.
The NSE 20 share Index fell 14.94 points to stand at 1,792.42 while NSE 25 Share Index shed 18.34 points to settle at 3,368.92
The bourse closed the day with a total of 10.1 million shares valued at Sh288 million.
Safaricom was the day’s main feature with 4.2 million shares valued at Sh124 million traded between Sh28.00 and Sh30.60 representing 25.5 per cent of the day’s traded value.