The Nairobi Securities Exchange (NSE) on May 18, 2026, had a mixed performance, with the Nairobi All-Share Index (NASI) closing at 205.77, marking a marginal gain of 0.1%. While the NASI and NSE-10 indices saw slight upticks, the NSE-20 and NSE-25 indices retreated by 1.0% and 0.4% respectively. Trading activity saw a significant cooling period, with equity turnover plunging by 50.0% to KES 195.20 million, down from KES 390.26 million in the previous session.
Top Gainers and Losers affecting NASI
The market’s slight growth was underpinned by gains in large-cap stocks. Safaricom Plc was a notable performer, gaining 1.8% to close at KES 30.60. Other heavyweights supporting the market included Equity Group Holdings (+0.7%), East African Breweries (+0.6%), and Kenya Power & Lighting (+0.3%).
The market was weighed down by large-cap stocks such as Stanbic Holdings, which lost 6.0%, and Co-operative Bank, which fell by 1.7%. The Banking Sector Index overall fell by 1.2%, further impacted by a significant 8.8% drop in BK Group Plc. ABSA Kenya Plc remained the most traded counter of the day, clocking an aggregate turnover of KES 37.77 million.
Foreign investor sentiment soured during the session as they turned into net sellers, recording outflows totaling KES 17.66 million. This was a sharp reversal from the net inflows of KES 143.72 million recorded in the prior session. Foreign participation accounted for only 6.2% of the day’s activity, while local investors dominated with 93.8% participation. The top foreigner buys were concentrated in Safaricom (KES 1.65 million) and Equity Group (KES 0.78 million), while the heaviest foreign selling was seen in BAT Kenya (KES 9.82 million) and NCBA Group (KES 6.64 million).
NSE performance occurred during a downward trend in major global equity markets, particularly in the United States, where the NASDAQ dropped 1.5% and the S&P 500 fell 1.2%. While European markets like Germany’s DAX (+1.7%) and the UK’s FTSE 100 (+0.9%) bucked the trend, Asian markets generally followed the U.S. lower, indicating cautious trading conditions globally.
Also read: Safaricom’s License Renewed for 25 Years, Shifts Momentum to Growth.
