The Nairobi Securities Exchange (NSE) closed the month on a positive note, with major indices recording broad-based gains, despite heightened tensions in the Middle East which drove up global oil prices and exerted upward pressure on inflation.
The Nairobi All Share Index (NASI) rose by 5.4% to close at 205.34 points from 194.82 in the previous month. The upturn was largely driven by gains in large-cap stocks such as Co-operative Bank, Stanbic Bank, and Safaricom Plc. The counters advanced by 15.9%, 11.3%, and 8.0%, respectively.
The NSE 20 and NSE 25 gained 3.4% and 4.6% to close at 3,547.53 points and 5,667.98 points, respectively. Notwithstanding bearish momentum in the final week of the month, all indices recorded year-to-date gains. The NSE 20, NSE 25 and NASI posted year-to-date gains of 12.9%, 10.7%, and 9.6%, respectively, underscoring continued investor confidence in the bourse.
Trading activity picked up moderately, with 653.6 million shares exchanging hands, up 3.6% from 630.7 million in the previous month. However, equity turnover plummeted by 20.1% to KES 15.2 billion, compared to KES 19.1 billion in the prior month. Investor wealth (market capitalization) reached KES 3.41 trillion, up 5.4% from KES 3.23 trillion in the previous month.
NSE Top Gainers
National carrier Kenya Airways emerged as the standout performer, gaining 32.4% to close the month at KES 6.50. BOC Kenya ranked the second, rising 24.3%, supported by strong FY2025 results. Bank of Kigali rose by 16.1%, while Co-operative Bank advanced by 15.9%.
Automobile firm, Car and General completed the list with a 13.6% increase, supported by impressive FY2025 results. The firm posted a 365.5% surge in profit after tax to KES 2.45 billion, marking the highest net income in its history. Car and General also recommended a final dividend of KES 3.12 per share.
NSE Top Losers
On the downside, Flame Tree Group Holdings emerged the biggest decliner, shedding 17.1%. The company’s Board of Directors issued a profit warning, expecting a reversal from profitability for the period ended December 2025.
Africa Mega Agricorp followed with an 8.1% drop, while as Uchumi Supermarket lost 7.8%. Shri Krishana Overseas slipped 7.2%, as Umeme Plc rounded off the top losers with an 6.9% decline.
Foreign Participation and Fixed Income Performance
Foreign investors remained net sellers, recording net outflows of KES 2.0 billion, compared to net Outflows of KES 4.3 billion in the previous month, signaling continued profit taking. Activity in the fixed income segment was subdued, as evidenced by a decline in turnover to KES 217.9 billion from KES 329.5 billion.
