The Nairobi Securities Exchange (NSE) concluded the week in bearish note with all major indices recording declining compared to the previous week.
The Nairobi All Share Index (NASI) declined by 3.6% to 208.41 points from 216.08 points recorded last week. The downturn was mainly driven by losses in blue chip stocks such as Absa Bank Kenya, Standard Chartered Bank Kenya, and NCBA Group, which declined by 6.4%, 6.1%, and 4.9% respectively.
However, the market was partly supported by gains in large-cap stocks including Co-operative Bank and DTB-Kenya, which rose by 2.7% and 1.5%, respectively. Despite the weekly decline, the benchmark index remains up 12.6% year-to-date.
The NSE 20 fell by 3.9% to 3,604.75 points, while the NSE 25 dropped 3.1% to 5,761.82 points. The NSE 10 and the Banking Sector Index each declined 3.1%, closing the week at 2,198.95 points and 238.32 points, respectively.
Equity turnover declined by 22.2% to KES 5.5 billion, while market capitalization stood at KES 3.29 trillion, down 3.6% compared to the previous week.
NSE Top Gainers and Losers
Manufacturing firm Africa Mega Agricorp plc emerged the top gainer rising by 10.7% to close above the KES 100 mark at KES 108.25. BK Group Plc followed gaining 5% to finish the week at KES 47.35. Co-operative Bank, TotalEnergies, and TPS Eastern Africa Ltd gained 2.7%, 2.1%, and 1.8% respectively.
On the losers’ side, Uchumi Supermarkets led the decline, shedding 38.6% to close at KES 1.80. Other notable decliners included Flame Tree Group, Sameer Africa, Kenya Airways, and Britam Holdings plc, which lost 17%, 13.9%, 12.3%, and 10.42% respectively.
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