In the stock market, investors make money by doing the opposite of what others are doing/herd mentality.
I can tell you @Kiio, all "investors" will try to pull that stunt. It worked for me in 2002/2003 and backfired on me in 2007/2008.
The main reason was that the ignorance level 10 years ago was much more than in 2007/2008. We had an inefficient(weak market) with very little access to information then. Even the CDSC wasn't born. (Maybe someone like @VVS,@Jamani should start a thread called...Back in the day NSEwise) But in 2007/2008, we had close to what i'd call a strong (Efficient)market with lots of access to info, ceteris paribus

I don't disagree with you Ngamia, but look at it from common mwananchi and foreign investors view, (as Kenya has very few sophisticated investors )view, do you think they are willing to put there money in NSE in KENYA during an election period? and the wave thing in Kenya only works in IPO, when investing in it becomes the days hot NEWS.

Well @Kiio and @Mkeiyd, i hope you understand/appreciate that the more a market becomes sophisticated,(read more efficient), the harder it is to arbitrage as info is more public and investors more informed. People would not even be talking about the Mworias as is the case in another thread here.
but your points on foreign participation and the 2007/2008 PEV are spot on and true. that's why i said in my closing remarks,ceteris paribus, meaning other factors held constant.