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Home Global Markets Weekly Markets Review

Banking Stocks Drive NSE Higher as NASI Gains 2.3% in the Week

Ivan Lewa by Ivan Lewa
in Weekly Markets Review
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The Nairobi Securities Exchange (NSE) closed the week on a positive gain with broad-based gains recorded across major indices.

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The Nairobi All Share Index (NASI) closed at 210.37 points, up 2.3% from the preceding week, driven by gains in large-cap stocks including Stanbic Holdings (5.8%), Equity Group (4.0%), EABL (3.0%), DTB-K (2.9%), and Co-op Bank (0.5%). The index has gained 13.3% on a YTD basis.

The NSE 10 rose by 2.2% to 2,209.91 points, while the NSE 20 edged higher by 1.3% to close at 3,557.72 points. The NSE 25 closed at 5,789.22 points, up 2.3%, while the Banking Sector Index nudged upward by 2.5% to close at 239.37 points.

Trading activity ticked up modestly during the week, with the volume of shares traded rising 3.7% to 109.9 million. Conversely, equity turnover declined by 29.5% to KES 3.4 billion, compared to KES 4.8 billion in the previous week.

NSE Top Gainers and Losers

Longhorn Publishers topped the gainers’ chart, rising by 8.3%, followed by Jubilee Holdings, which rose by 7.3%. Car and General gained 6.9%, while KCB Group advanced by 6.0%. Stanbic Holdings rounded out the list of top gainers after rising by 5.8%

On the losers’ side, Sasini PLC shed the most. The counter declined by 15.0%, driven by weak H1 2026 results and the unsuccessful sale of its Gulmarg Division tea estate in Mweiga. The agricultural firm sank deeper into losses, reporting a net loss of KES 170.8 million compared to a net loss of KES 113.1 million in H12025, driven by weak tea prices, logistics challenges and elevated selling costs. Limuru Tea lost 7.8%, while BOC Kenya declined by 7.3%. WPP ScanGroup fell by 6.4%, while Kakuzi PLC dropped by 5.6%.

Local investors dominated the market, accounting for 68% of the total market turnover, equivalent to KES 2.3 billion, while foreign investors accounted for 32%, representing KES 1.1 billion. Foreign investors remained bearish, recording net outflows of KES 251.2 million.

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Fixed Income Segment

The fixed income segment lost momentum, with bond turnover declining by 36.7% to KES 23.5 billion, from KES 37.1 billion in the previous week.

Also Read: NSE Closes May Higher Despite Rising Inflation, Welcomes 3 New Listings

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