NSE 25 jumps 4.49% as Family Bank listing and market reforms drive momentum

The NSE 25 rose 4.49% to 6,382.98 points on June 24, with momentum supported by Family Bank's listing at KSh18 a share, according to The Kenyan Wallstreet and Bizna Kenya. Business Daily reported investors were eyeing a KSh2 billion gain from the deal, while advisers lined up for a KSh77 million payout. Regulatory activity also picked up, with trading rules amended on June 20 to accommodate block trades, according to The Kenyan Wallstreet, followed by the June 22 launch of options on futures on the NEXT derivatives market, according to African Markets. On June 24, the NSE also appointed Sterling Capital as a market maker on NEXT, according to a press release, after Morgan Stanley added StanChart and HF Group to a key global index on June 18, The Kenyan Wallstreet reported.