The market closed the week on November 28 sharply lower across all major indices, even as a handful of high-momentum counters recorded outsized gains.
- •Uchumi led the market again, rising 45.95% to KSh 1.08, up 494% YTD.
- •East African Portland Cement gained 19.77% to KSh 77.25 after trading resumed mid-week following a temporary halt.
- •Umeme, Longhorn and Sasini also posted strong week-on-week advances.
Losses were concentrated in several large and mid-cap names. Carbacid fell 10.84% while Olympia dropped 9.56%. KCB slipped 8.56% and Nation Media and Sanlam weakened through the week.
Market breadth was negative as all key indices closed lower. The NSE 20 fell 3.30% to 3,052.73. The NSE 25 dropped 3.90% to 4,820.79. The NASI declined 3.65% to 181.06 and the NSE 10 slid 4.21% to 1,848.91. Market capitalization fell 3.65% to KSh 2.86T.
Equity turnover fell 17.24% to KSh 3.166B as volumes slipped 2.63% to 112.58M shares. Turnover remained concentrated in a narrow group of large counters. Safaricom led activity with KSh 1.13B, followed by KCB at KSh 506.43M, EABL at KSh 294.18M, Equity Bank at KSh 160.55M and Bank of Kigali at KSh 156.35M. These five counters accounted for 72.99% of total traded value.
Foreign investors registered a net outflow of KSh 619.89M, an improvement from last week’s outflow of KSh 834.15M. Foreign activity accounted for 38.25% of turnover. Sales were heaviest mid-week during a high-volume session driven by Safaricom, EABL, BK Group and KCB.
Activity on the NEXT Derivatives Market remained stable. Contract volumes rose 5.54% to 2,381, though turnover fell 15.74% to KSh 10.36M. Bond market activity strengthened. Bond turnover rose 76.32% to KSh 61.61B. The bond index eased 0.20% to 1164.71.
Global equity benchmarks were mixed. The Dow Jones eased 0.43% on the month while the Nasdaq was down 3.1%. The MSCI World declined 1.16%. Japan’s Nikkei rose 25.66% YTD.
Corporate news remained active through the week.
- •The NSE reinstated trading in Portland Cement after resolving issues tied to Wednesday’s trading halt.
- •BAT Kenya announced the exit of Company Secretary Waeni Ngea, with FCS Kathryne Maundu set to take over from January 2026.
- •Kenya Airways issued a full-year profit warning, citing grounded Boeing 787-8 aircraft that reduced capacity and revenue.
- •Family Bank, HF Group, Centum and Standard Chartered released half-year results for the period ending September 30.
