Nairobi, July 13 -- The shilling dipped against the dollar while the Nairobi Securities Exchange #ticker:NSE lost Sh110 billion in the week Kenya announced a phased reopening of the country from Covid-19 lockdown to stimulate the economy.
The value of all the stocks on the Nairobi bourse hit a three-month low of Sh2.02 trillion on Friday compared to Sh2.13 trillion on July 3 - ahead of the market factoring in news on the easing of the restrictions.
Analysts linked the NSE dip to foreign investors' reduced interest in blue-chip stocks, arguing that most traders were fretting over the performance of market movers like Safaricom #ticker:SCOM and the big banks.
The high-net worth traders believe the effects of coronavirus will dim the earnin...