Against the backdrop of nationwide protests marking the anniversary of last year’s tax unrest, the Nairobi Securities Exchange delivered a standout performance on Tuesday.
- •The NSE All-Share Index (NASI) climbed to a three-year high of 148.50, up 0.68%, lifting year-to-date gains past 20%—a strong signal of investor confidence in the face of political tension.
- •NSE market capitalization rose to KSh 2.34 trillion, up 0.7% daily and 20.26% year-to-date. Both NSE 10 and NSE 25 hit 52-week highs, reflecting strength in large caps.
- •Turnover dropped 26.1% to KSh 232.7 million, but gainers (28) outpaced decliners (9), signaling underlying momentum.
Foreign investor confidence faltered, with net outflows of KSh 35.53 million reversing the previous day’s inflows. Buys fell 58% to KSh 50.55 million, while sales surged 33.1% to KSh 86.08 million, reflecting a risk-off shift amid political unrest.
| Index | Close | Daily Change | YTD Change | Notes |
|---|---|---|---|---|
| NASI | 148.50 | +0.68% | +20.26% | 3-Year High |
| NSE 20 | 2,318.17 | +1.05% | +15.29% | |
| NSE 10 | 1,469.98 | +0.55% | +12.87% | 52-week High |
| NSE 25 | 3,818.82 | +0.63% | +12.23% | 52-week High |
Three Stocks Hit Multi-Year Highs:
- •KenGen ($KEGN): Hit an intraday high of KSh 6.00, last seen in August 2020.
- •Kenya Power ($KPLC): Rose 3.31% to KSh 9.36, highest since December 2017.
- •NCBA Group ($NCBA): Climbed to KSh 58.50, a 10-year high.
Dividend & Earnings Highlights
On the corporate calendar, two companies paid their FY2024 final dividends today:
- •BAT Kenya ($BAT): Paid KSh 45.00 per share today, pending AGM approval. Total FY2024 payout: KSh 50.00.
- •BK Group ($BKG): Paid Frw 18.92 per share, bringing the FY2024 total to Frw 29.34.
Meanwhile, Williamson Tea ($WTK) and Kapchorua Tea ($KAPC) are expected to release their FY2024/25 financial results. Both companies issued profit warnings in May, citing weak global tea prices and a strong shilling.
As macro reforms and earnings optimism drive sentiment, investor focus now shifts to upcoming fiscal policy cues and the July bond auction.
