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Kenyan Stock Exchange falls as Investors react to the Supreme Court Ruling

Kenyan Stock Exchange falls as Investors react to the Supreme Court Ruling

The Kenyan stock market fell sharply, on Friday, following the Supreme Court decision to annul the presidential election won by the incumbent, Uhuru Kenyatta.

The Nairobi all-share index finished a whopping 3.69 per cent in the red, starting the new month on a negative note.

The Nairobi Securities Exchange Broad index has lost 21.15 per cent since 2017 started.

At the currencies market, the Kenya shilling was priced lower 0.44 per cent in morning trade, around 103.20 on the U.S. dollar.

Exotix Capital Analyst based in the Kenyan capital, Faith Mwangi said in a short statement, that his investment bank sees ”markets weakening” as political tension resumes over the next two months.

Meanwhile, the Kenyan Supreme Court has fixed November 1, 2017 as the new date for another election.

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