Bonds turnover rises 11pc on low primary market activity - 8 months ago, 13 June 17:41
Bonds turnover at the Nairobi Securities Exchange (NSE) rose 11.2 per cent in May as investors channelled excess funds into the secondary market due to limited uptake of bids in primary auctions by the Central Bank of Kenya.
Market data compiled by Cytonn Investments shows that the bonds turnover stood at Sh44.8 billion last month compared to Sh40.3 billion in April, with the volumes expected to rise further this month due to easing liquidity in the market.
Analysts say that with yields on bonds remaining relatively stable last month, investors were able to eke out some gains in price, which made the securities attractive.
“The yields on government securities in the secondary market remained relatively stable during the month as the Central Bank of Kenya (CBK) continued to reject expensive bids in the primary market. According to the FTSE NSE Bond Index, Treasury bonds listed at the NSE gained 1.4 per cent in ...
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