The Equities market maintained bullish momentum, with broad-based gains recorded across major indices, led by the NSE 20, which advanced 2.4% to close at 3,691.17 points from 3,604.75 points in the previous week.
The Nairobi All Share Index (NASI) gained 1.4% to 211.31 points, supported by gains in large-cap stocks such as EABL, BAT, and Equity Group, which rose 5.2%, 4.3%, and 3.4%, respectively. Despite the strong performance, the market was weighed down by losses in blue-chip stocks including, Standard Chartered Bank Kenya and Co-operative Bank, which shed 1.5% and 0.2%, respectively. The benchmark index has gained 17.7% year-to-date.
The NSE 10 and NSE 25 indices edged higher 2.3% and 2.1%, settling at 2,249.20 points and 5,880.79 points, respectively. Similarly, the Banking Sector Index inched upwards 1.6% to 242.2 points, mainly driven by gains in Equity Group (3.4%), Absa Bank (3.0%), and KCB Group (2.3%).
Equity turnover rose 15.2% to KES 6.3 billion, while investors wealth (market capitalization) increased 6.6%, crossing the KES 3.5 trillion mark to KES 3.504 trillion, signaling improved investor confidence. Notably, the listing of Kenya Pipeline Company at the NSE buoyed the market capitalization past the KES 3.5 trillion mark. Foreign investors remained net sellers, recording net outflows of KES 2.6 billion, reflecting increased profit-taking.
NSE Top Gainers
Nation Media Group led the gainers advancing 22.3% to close at KES 17.00. The rally followed the Aga Khan Fund for Economic Development (AKFED) announcement of the sale of its 100% stake in NPRT Holdings Africa Limited to Taarifa Limited. AKFED, through NPRT Holdings, holds a 54.08% stake in Nation Media Group.
Other notable gainers included Home Afrika (16.4%), Uchumi Supermarket (13.3%), Britam Holdings (12.5%), and Kenya Airways (11.6%).
NSE Top Losers
On the downside, Kakuzi Limited shed the most, declining by 3.9% to close at KES 412.5. Other notable decliners included Shri Krishana Overseas Ltd, B.O.C Kenya, Sanlam Kenya, and BK Group, which lost 3.8%, 3.4%, 2.9%, and 2.9%, respectively.
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