The Nairobi Securities Exchange (NSE) closed the 24th week of the year in negative territory with broad-based losses recorded across all major indices.
The Nairobi All Share Index (NASI) retreated by 0.75% to close at 208.8 points from 210.4 points recorded in the preceding week. The downturn was largely driven by losses in market heavy weights such as Absa Bank Kenya, Equity Group, KCB Group, which lost 2.9%, 2.3%, and 2.1%, respectively.
The NSE 10 declined by 0.75% to close at 2,186.5 points, while the NSE 20 fell by 0.40% settling at 2,202.9 points. The NSE 25 and the Banking Sector Index closed at 5,755.0 points and 237.99 points, down 0.59% and 0.58%, respectively.
The market’s downturn was partially mitigated by gains in select large cap stocks such as EABL, Stanbic Bank, and Standard Chartered Bank, which advanced by 4.0%, 2.6%, and 1.6%. Despite the decline, NASI has gained 11.9% on a year-to-date basis.
Market Activity
The market witnessed sluggish activity, with the volume of shares declining sharply by 14.5% to 94 million shares. Conversely, equity turnover rose marginally by 1.3% to KES 3.4 billion, highlighting increased value traded despite the lower volumes. Market capitalization stood at KES 3.46 trillion, down 0.75%, week-on-week.
Top Gainers and Losers
Uchumi Supermarket led the gainers, rising by 13.8% to close at KES 1.65, followed by Car and General which advanced by 10.6%. Other notable gainers included EAPC (7.2%), Home Afrika Limited (5.6%), Nairobi Business Ventures (4.9%).
On the downside, Olympia Capital Holdings, emerged as the biggest loser, shedding 9.2%, followed by Jubilee Holdings, which declined by 6.6%. Sanlam Kenya fell by 5.9%, while Absa NewGold EFT lost 5.6%. Express Kenya rounded out the top losers, shedding 4.6%.
The fixed-income segment gained momentum with bond turnover surging 149.9% to KES 58.7 billion from KES 23.5 billion recorded in the preceding session.
NSE Key Developments
Family Bank received the greenlight from the Capital Markets Authority (CMA) to list its shares on the NSE. The tier two lender will join the bourse on June 23, 2026, via the non-capital route-listing by introduction.
Africa Mega Agricorp PLC announced changes to its board and management, appointing four senior professionals to strengthen leadership and support the company’s next phase of growth.
Effective June 3, 2026, Phillip Ndabari Muriuki was appointed Chairman and Independent Non-Executive Director, James Watenga Kamau joined the board as an Executive Director, Joshua Gakinya was appointed Independent Non-Executive Director, while Abraham Ng’etich was named Acting Chief Executive Officer. The company also announced the resignation of directors Yebeltal Getachew and Michael Foley.
Equity Group’s social impact arm, Equity Group Foundation and the European Union signed a partnership to expand access to quality education and global learning opportunities, supporting 100 Equity scholars annually to pursue Master’s degrees in European Universities.
