The Nairobi Securities Exchange (NSE) closed the final trading week of January 2026 on a firmer footing, extending gains from earlier in the month as turnover accelerated and foreign investors returned to net buying.
- •The advance capped a constructive January, following a strong 2025, but trading patterns continued to show selective risk-taking rather than broad-based accumulation.
- •The NSE 20 Share Index rose 0.98% to 3,299.28, while the All Share Index (NASI) added 0.39% to 195.36, marking its highest weekly close this year.
- •The NSE 25 gained 0.38% to 5,321.96, and the NSE 10 climbed 0.89% to 2,046.82.
In contrast, the Banking Index slipped 0.35%, reflecting mild profit-taking in large-cap lenders despite heavier trading volumes.
Market capitalisation increased 0.39% to KSh 3.08 trillion, reinforcing the steady upward trend that has defined the opening month of 2026.
Equity turnover jumps as activity concentrates in large caps
Equity turnover rose sharply to KSh 4.45 billion, up 39.06% week-on-week, with volumes increasing to 114.7 million shares from 79.8 million previously. Activity remained highly concentrated, with the top five counters accounting for 67.26% of total market value.
KCB Group led turnover with KSh 954.6 million, closing the week at KSh 66.50, down 0.37%. Safaricom followed with KSh 684.5 million, ending marginally lower at KSh 29.60. Equity Group traded KSh 553.3 million, while Absa New Gold ETF recorded KSh 460.8 million, supported by a 5.41% price gain. East African Breweries rounded out the top five with KSh 341.5 million, rising 7.37% on the back of strong half-year results.
Sector activity was dominated by banks, which accounted for 53.84% of weekly turnover at KSh 2.3 billion. Exchange-traded funds gained prominence, contributing 10.37% of market value, while manufacturing and telecommunications followed with 9.79% and 15.37% respectively.
Market breadth was mixed. BOC Kenya led gainers with a 13.66% rise, followed by Diamond Trust Bank at +10.26% and Eaagads at +9.93%. On the downside, Olympia Capital fell 6.77%, Kakuzi declined 5.21%, and NCBA dropped 5.13%.
Foreign inflows return as derivatives and bonds diverge
Foreign investors recorded a net inflow of KSh 506.8 million, reversing the KSh 583.3 million outflow posted the previous week. Total foreign turnover stood at KSh 1.30 billion, representing 29.31% of overall market activity, while local investors accounted for 70.69%.
The derivatives market rebounded sharply, with 3,004 contracts traded, up 427% week-on-week, and turnover rising to KSh 17.3 million. Bond market activity eased, with turnover falling 13.72% to KSh 72.1 billion, although the bond index advanced 0.92% to 1,174.14.
Corporate news featured EABL’s strong half-year performance, with profit after tax up 38% to KSh 11.2 billion and an interim dividend of KSh 4.00 per share, alongside Umeme’s profit warning following the expiry of its Ugandan distribution concession.
