NSE Weekly Market Summary – Week Ⅲ Ended Friday, January 16, 2026
The Nairobi Securities Exchange extended its positive start to 2026, with all major equity indices closing higher despite a sharp pullback in trading activity.
- •The week reflected consolidation after the strong opening week of the year, with gains driven by selective buying in banks, telecoms, and agriculture, while foreign investors turned aggressive sellers.
- •The All Share Index (NASI) rose 1.04% to 193.87, adding 2.00 points, while the NSE 20 gained 0.70% to 3,256.54. The NSE 25 advanced 0.66% to 5,280.48, and the NSE 10 increased 0.61% to 2,034.91.
- •The Banking Index edged higher, supported by gains in KCB and Absa, although performance across the sector was mixed.
Market capitalization increased 1.04% to KSh 3.06 trillion, tracking the rise in the broader market.
Trading activity cooled markedly after last week’s surge. Equity turnover fell 26.67% to KSh 2.57Bn, down from KSh 3.50Bn, while volumes dropped 39.32% to 79.19M shares. Concentration eased as well. The top five counters accounted for 58.61% of total turnover, down sharply from 79.89% the previous week, pointing to a more dispersed trading pattern.
Safaricom remained the most actively traded counter, with KSh 549.2M in turnover, representing 21.38% of weekly value, and closed 2.06% higher at KSh 29.70. KCB Group followed with KSh 277.5M in turnover and a 0.75% gain to KSh 67.50, while Equity Group traded KSh 244.2M and closed 0.72% lower at KSh 69.00. NewGold Issuer (RP) recorded KSh 240.5M, while Absa Bank rounded out the top five with KSh 194.1M.
The banking sector contributed KSh 1.33Bn, accounting for 51.99% of total market turnover. Outside banking, activity in telecommunications amounted to KSh 549M, while manufacturing and allied stocks recorded KSh 200.3M, led by BAT Kenya, which gained 1.23% on KSh 147.5M in turnover. EABL closed 2.15% lower after trading KSh 40.8M.
In energy, sentiment softened. KenGen fell 1.22% to KSh 9.70, while Kenya Power declined 1.33% to KSh 14.85, together accounting for KSh 150.6M in sector turnover.
Market leadership rotated toward agriculture and media stocks. East African Portland Cement led weekly gainers, rising 14.05% to KSh 85.25. Sasini advanced 11.60% to KSh 20.20, extending gains after its return to profitability. Nation Media Group climbed 7.08%, Eaagads gained 6.51%, and Standard Group rose 5.12%.
On the downside, NewGold ETF recorded the steepest decline, falling 39.41% over the week. Unga Group dropped 7.79%, Home Afrika fell 5.30%, Kenya Airways declined 4.68%, and Jubilee Holdings eased 3.18%.
Foreign investor sentiment deteriorated sharply. Total foreign buys stood at KSh 228.6M, while sells surged to KSh 1.33Bn, resulting in a net outflow of KSh 1.10Bn. Foreign participation accounted for 31.54% of total market turnover, down from the prior week, with selling pressure concentrated mid-week.
Activity in the fixed income market accelerated significantly. Bond turnover jumped 79.19% to KSh 75.68Bn, from KSh 42.24Bn the previous week, while the Bond Index rose 0.50% to 1,163.47, pointing to firm prices amid heavier trading. The derivatives market cooled, with 3,096 contracts traded worth KSh 5.88M, down sharply from the prior week.
Corporate developments featured prominently. I&M Group Plc completed the acquisition of additional shares in I&M Bank (T) Limited following regulatory approvals, strengthening its regional footprint.
On the macro front, conditions remained stable. The shilling traded at 129.03 per US dollar, KESONIA eased to 8.96%, the CBR held at 9.00%, and inflation remained unchanged at 4.49% in December.
