MARKET INFORMATION
Nairobi Securities Exchange
http://www.nse.co.ke/

 

Trading Hours

Pre-opening session

09:00 - 09:30

Opening Auction call

9:30 - 09:31

Regular Trading

09:31 - 03:00

Closing price publication

03:00 - 03:05

Time Zone

GMT+3

Trading Days

Monday – Friday

Trading Currency

Kenyan Shilling (KES)

 

Main Index

Nairobi Securities Exchange Ltd All share Index

Reuters code

NASI

Bloomberg code

NSEASI

Exchange Code

Reuters

NR

Bloomberg

KN

Trading ID/ Trading Requirements

CDS account number

Settlement Cycle

T+3.

Current Index Status

MSCI FM
FTSE FM

Market Cap

$9.3bn
Average Daily Value Traded
YearAVG VALUE TRADED
2021 $5.1mn
2022 $3.2mn
2023 $2.5mn
MARKET DYNAMICS

Stock Limit
Up/Down

10% up or down but restriction is lifted in event of a material announcement

Tick Size

Stock price Below KES 5.00: KES0.01
≥5.00 <10.00: KES 0.02
≥10.00 <50.00: KES 0.05
≥50.00 <500.00: KES 0.25
≥500.00 <1000.00: KES 1.00
≥1000.00: KES 5.00

Board Lot

100 share with an Odd Lot Board available

Crosses

Allowed in the market spread

Off - Market Crosses

Available for trades that exceed KES 3bn in value and constitute 5% or more of issued shares subject to a max 24.99%.

If the trade constitutes more than 15% but less than 24.99% of issues shares, you may cross for less then KES 3bn in value.

Price must be within a 30% range based on avg price for the last month.

All or None


Not available

Closing Price


VWAP on the day rounded to the closest tick size

Iceberg


Available with a min 25% splice to be exposed

MARKET REGULATIONS
Foreign Ownership Restriction
No foreign ownership restrictions apply. Foreign investors may own up to 100% of any listed stock except for stocks where the government has a strategic interest. In such cases, the CMA approval is needed.
Disclosure Rules
A disclosure is required at the ownership of 25% or more of all non-banking stocks and at 5% ownership of any listed bank.
Securities Lending
Theoretically permitted but not practiced
Short selling
Not Allowed
Timeline for New NIN Setup
None, able to trade immediately as long as the CDS is valid
MARKET FEES & TAXES
Market Fees 36 bps (breakdown available)
Capital Gain Tax None
Withholding Tax on Dividends 5% for local residents
15% for East African community
20% for foreign investors