The Nairobi Securities Exchange (NSE) experienced significant movements last week, with the NSE All Share Index (ASI) rising by +5.74% to 107.66 points. In contrast, Egypt's EGX 30 index fell by -7.22% to 29,054.96 points. The world's largest asset manager, BlackRock, has begun investing in the NSE, contributing to its notable performance. BlackRock's investment has been highlighted as a key factor in the NSE's recent success, with the exchange up approximately ~40% in USD terms in 2024, making it the best-performing stock market in Africa. Additionally, the NSE equities market recorded its highest single-day turnover of the year, with KES 3B on a volume of 141M shares, where Safaricom accounted for 61% of the day's turnover. BlackRock's involvement is seen as a significant endorsement of the Kenyan market, with the company managing around >US$9.0 trillion in assets. This move is expected to have a major impact on foreign direct investments in Kenya.
Big boost of confidence in Kenyan investments. It could have a major impact on FDIs. https://t.co/sajx0HUmD0
The NSE is up ~40% in USD terms in 2024 making it the best-performing stock market in Africa. Good times. https://t.co/JrUp7WKyfy https://t.co/lOd2eMNEy9
The Nairobi Securities Exchange (NSE) equities market yesterday recorded the highest single-day turnover this year of KES 3B on a volume of 141M shares. Safaricom accounted for 61% of the day's turnover. Good times. https://t.co/JWwekpO0xH
FYI BlackRock coming to the NSE is a big deal. The company has around $10T in Assets Under Management. https://t.co/kHzEt8HT1s https://t.co/sP1E5BWdjc
World's largest asset manager BlackRock is now investing at the Nairobi Securities Exchange (NSE). "Blackrock actually made an investment into the equities & if you are keen ...you can actually start to see [the NSE] has been going up" Btw, NSE is up 40% YTD in USD terms $BLK https://t.co/qwK5p7fw1V
The world's largest asset manager BlackRock is now investing at the NSE. "Blackrock actually made an investment into the equities and if you are keen ...you can actually start to see [the NSE] has been going up" No wonder the NSE has been on a roll https://t.co/Sa38G40cBI
When BlackRock (>US$9.0 trillion in AUM) comes to town https://t.co/iymDdCvGxb
African markets last week: 🟢Kenya NSE ASI: +5.74% to 107.66 points 🔴Egypt EGX 30: -7.22% to 29,054.96 points https://t.co/Ledq3K4Jhx