The Nairobi Securities Exchange (NSE), has launched a mobile app in a bid to increase investor participation in the Capital Markets.
The app features stock prices, market analytics, market snapshots as well as financial news designed to provide market participants with convenient, faster and real-time access to NSE activities.
“Today, our country and the entire world is fighting a health crisis and there has been a need to put in place measures to support trading in the market while ensuring that we adhere to the health protocols as laid down by the Government. The NSE has undertaken strategic measures to ensure local and foreign investors have uninterrupted access to Capital Market services in Kenya,” said NSE chairman Sam Kimani.
Kimani noted that the mobile app users will also be able to create personalized watch lists to keep track of chosen securities, eliminating the need to access multiple information sources.
“The delivery of the NSE mobile app is consistent with NSE’s intent to offer uninterrupted services amid the current situation and Government directives put in place to mitigate the effects of the pandemic. Guided by this commitment, the NSE commissioned the upgrade of the NSE Mobile App to incorporate advanced features aimed at ensuring investors continue to access and invest in the stock market remotely through the application,” he added.
He says With the upgrade, the App will be a gateway to the Online Share Trading and Mobile Trading Apps offered by the various trading participants leading to a halt in trading.
The move comes even as investors at the bourse lost Sh232B in paper wealth after the first case of coronavirus in Kenya triggered a panic sell.
According to the 2020 first quarter Capital Markets Authority Statistical Bulletin, the NSE 20-share index shed over 5 per cent, prompting a market halt, sparked-off by panic selling in an already bearish market.
End of quarter market capitalisation recorded a 7.94 per cent decrease to Sh2.02T.
Source: The Exchange