The Nairobi Securities Exchange (NSE) closed Week 10 of 2026 sharply lower, reversing part of February’s strong rally as widespread profit-taking hit most counters.
- •Market capitalization fell KSh 121.04 Bn to KSh 3.29 Trillion from KSh 3.41 Trillion, a 3.55% decline week-on-week.
- •The drop ranks as the 15th largest weekly market capitalization contraction on the NSE since January 2008.
- •Forty-four stocks declined during the week, only nine gained, while fourteen remained unchanged, after broad selling pressure following February’s strong gains.
The NSE 20 Index declined 3.88% to 3,604.75, while the NSE All Share Index (NASI) fell 3.55% to 208.41. The NSE 25 Index dropped 3.13% to 5,761.82, the NSE 10 Index declined 3.06% to 2,198.95, and the Banking Index eased 3.08% to 238.32.
Equity turnover declined 22.22% to KSh 5.49 Bn, down from KSh 7.06 Bn the previous week, while traded volume dropped 36.75% to 181.9 million shares from 287.6 million shares.
Trading remained concentrated in large-cap counters. The top five stocks accounted for 70.75% of market turnover, led by Equity Group (KSh 1.83 Bn), Safaricom (KSh 798.6 Mn), KCB Group (KSh 602.5 Mn), the NewGold ETF (KSh 401.8 Mn), and Absa Bank (KSh 246.9 Mn).
Top Gainers and Losers
Africa Mega Agricorp led weekly gainers, rising 10.74% to KSh 108.25. BK Group gained 4.99% to KSh 47.35, while Co-operative Bank added 2.74% to KSh 30.00. TotalEnergies Marketing Kenya rose 2.10%, and TPS Serena gained 1.81%.
Losses were led by counters that had rallied sharply the previous week. Uchumi Supermarkets fell 38.57% to KSh 1.80, while Flame Tree declined 16.96%, Sameer Africa dropped 13.89%, Kenya Airways fell 12.32%, and Britam Holdings lost 10.42%.
Foreign Flows and Fixed Income
Foreign investors remained net sellers, recording an outflow of KSh 559.9 Mn. Foreign investors accounted for 37.05% of market turnover, with local investors contributing 62.95%.
Activity in the bond market slowed sharply. Secondary bond turnover declined 47.52% to KSh 71.49 Bn from KSh 136.23 Bn, while the Bond Index rose 0.40% to 1,207.60.
The derivatives market recorded 6,649 contracts worth KSh 37.2 Mn, compared with 6,994 contracts worth KSh 32.4 Mn the previous week.
Corporate Actions Last Week:
- •Absa Bank Kenya reported FY2025 profit after tax of KSh 22.9 Bn, up 10% year-on-year, supported by lower operating expenses and a 31% decline in loan loss provisions. Net interest income fell 6%, while operating income declined 2% to KSh 61.4 Bn. Total assets rose 6% to KSh 537.6 Bn. The board declared a dividend of KSh 2.05 per share, up 17%.
- •The NSE revised margin requirements for equity futures, effective March 20, raising margins for contracts linked to KCB, Equity, Absa, BAT and NCBA, while some Safaricom and KenGen contracts saw reductions.
- •Kenya Airways announced four board appointments, naming Kiprono Kittony as Chairman alongside Chris Diaz, Prof. Winnie Iminza Nyamute and Dr. David Ndii.
- •Meanwhile, the Kenya Pipeline Company IPO closed oversubscribed at 105.7%, raising KSh 106.3 Bn from the 65% stake sale priced at KSh 9 per share. Shares are expected to begin trading on the NSE this week.
