The Nairobi Securities Exchange (NSE) on week 46 of 2025 closed on a low with all indices finishing in the red. The N10 led the declines falling 3.2%, followed by the NSE 25 2.9%, NASI 2.4%, and NSE 20 2.3%. Despite the weekly losses, all indices maintain strong YTD gains, led by the NSE 20, which is up 58.1%. Uchumi led the gainers with a 23.1% increase, while Flame Tree Group was the biggest loser, declining by 14.4%.
NSE Top Gainers.
Uchumi Supermarket was this week’s top gainer, closing at KES 0.48, a 23% increase from last week’s KES 0.39, maintaining its upward trajectory on the YTD making a 182% gain and among the top performers on the NSE. Shri Krishana, a newbie on the NSE having joined on July 24, 2025, came second recording an increase of 9.6% to close at KES 8.20.
Cooperative Bank followed with an upturn of 8.5%, this follows the banks reported 12.3% year-on-year rise in earnings per share on the Q3 of 2025 which was driven by a significant 22.8% surge in net interest income which reached KES 45.3 billion. Cooperative Bank closed at 28.40. It was followed closely by Africa Mega Agricorp with a 6.1% increase then standard bank closing with an upturn at 5.3%.
NSE Top losers.
The market saw notable downward pressure on several key stocks during the week. Flame Tree Group was the hardest hit, with its value declining by 14.4% to close at KES1.55. The sell-off was broad-based, affecting major names across sectors. In the energy sector Total Kenya, recorded a considerable 12.2 % decline to close at KES 39.40.
Centum saw its share price reduce by 8.5 %, closing at KES 15.00, the banking sector was not immune, with Equity Group registering an 8.2% drop to KES 64.00. Utility provider Umeme completed the week at KES 6.98 after posting a 7.7 % loss. The Banking sector experienced the biggest downturn with only Cooperative bank and Diamond Trust bank recording an upturn.
T-bills and bonds
For the sixth week in a row, demand for Treasury bills exceeded the amount offered. The government accepted nearly all bids submitted, taking KES 30.4 billion of the KES 30.5 billion received. Yields showed a mixed trend, with the 364-day paper rising slightly to 9.4% and the 91-day and 182-day papers holding steady at 7.8%.
In the bond market, the government aims to raise KES 40 billion by reopening two bonds with fixed coupons of 12.3% and 14.2%, which mature in 8.7 and 21.9 years, respectively; the sale period runs from November 11th to November 19th, 2025.
Also read; CBK Reopens 2 Fixed Coupon Treasury Bonds Targeting KES 40B for Budgetary Support
