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The Nairobi Securities Exchange(NSE) has recorded an 82 per sent drop in half year profit to June 30, the self listed firm has reported. The group's profit during the period Ksh24 million as compared to Ksh134 million recorded over the same period in 2018. Global economic growth remained subdued in the first half of 2019 on account of strained US-China trade relations coupled with prolonged Brexit uncertainty, that significantly impacted on investor sentiments, slowing down investment.

The Nairobi Securities Exchange(NSE) has recorded an 82 per sent drop in half year profit to June 30, the self listed firm has reported.

The group’s profit during the period Ksh24 million as compared to Ksh134 million recorded over the same period in 2018.

This was occasioned by an 18 per cent decrease in revenues mainly driven by a 28 per cent drop in equity turnover which declined from Ksh108.5 billion for the six months ended 30 June 2018 to Ksh78.1 billion for the six months ended 30 June 2019.

READ:Bear run continues at NSE with drop in key index

This in turn led to a reduction in equity trading levies by 28 per cent from Ksh259.9 million for the six months ended 30 June 2018 to Ksh187.5 million for the six months ended 30 June 2019.

“The decline in the equity turnover was as a result of low …

The Nairobi Securities Exchange(NSE) has recorded an 82 per sent drop in half year profit to June 30, the self listed firm has reported. The group's profit during the period Ksh24 million as compared to Ksh134 million recorded over the same period in 2018. Global economic growth remained subdued in the first half of 2019 on account of strained US-China trade relations coupled with prolonged Brexit uncertainty, that significantly impacted on investor sentiments, slowing down investment.

Kenya’s capital markets performed dismally in the second quarter of the year, latest data shows, despite political stability and growing interest from foreign-based investors.

The Capital Markets Authority (CMA) report for the quarter ended June 2019 shows secondary equities market registered slow activity during the review period.

Equity turnover for Q2.2019 stood at Ksh32.89 billion (US$316.3million), compared to Ksh45.25 billion(US$435.1million ) registered in the previous quarter; a 27.31 per cent decrease.

Similarly, market capitalization recorded a 3.46 per cent decrease to Ksh2.278 trillion (US$21.9billion) from Ksh2.360 trillion(US$22.7billion)in Q1. 2019.

READ ALSO:NSE dips as 2018 ends on a bear market territory

Traded volumes followed the same trend, falling by 3.46 per cent to 1.39 billion during the period under review.

Other composite indicators such as the NSE All Share and NSE 20 Shares indices likewise recorded decreases of 5.11 per cent and 7.51 per cent closing the quarter at 149.61 …