🇰🇪 Nairobi Securities Exchange

The stock market gained Sh102.6 billion on Tuesday in investor wealth, the biggest single-day jump in four-and-a-half years as it signalled continued recovery following Monday’s Supreme Court ruling that affirmed Deputy resident William Ruto as the fifth president of Kenya.

Stock prices continued to retreat on Wednesday despite higher earnings reported by key bank stocks for the half-year to June period, reflecting the effects of foreign investors selling on large counters.

KCB Group reported a 27.5 percent rise in net profit for the half-year ended June 2022 benefiting from higher income from lending and transactions.

Markets fell on Monday after Kenyan opposition leader Raila Odinga formally challenged the results of this month’s presidential election at the country’s Supreme Court.