Nairobi Securities Exchange Closes Mixed Amid Low Turnover And Sustained Foreign Selling
The Nairobi Securities Exchange (NSE) ended Thursday’s trading session on a subdued and mixed note, reflecting lingering caution among investors ahead of key economic data releases next week.
Across the board, equity indices closed lower with minor losses, underlining the tepid investor sentiment. The benchmark Nairobi All Share Index (NASI) edged lower by 0.27% to close at 125.80 points, while the NSE 20 Index remained largely flat, shedding a negligible 0.02% to settle at 2,151.50 points.
Meanwhile, the NSE 25 Share Index slipped 0.19% to close the session at 3,421.61 points. The N10 Index, a proxy for the top 10 listed firms by market cap, also eased by 0.32%, signaling broad-based market softness.
On a month-to-date basis, losses have deepened, with the NASI and N10 down 3.54% and 0.93% respectively, indicating a persistent risk-off mood among investors. However, a longer-term view still shows resilience: year-to-date, the NSE 20 and NSE 25 indices have appreciated 7.01% and 0.55%, respectively, while the NASI remains 1.88% higher from the start of the year.
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Turnover Dwindles as Local Investors Reassert Dominance
Market liquidity was significantly lower compared to the previous session. Equity turnover contracted by 31.3% to USD 0.9 million, reflecting a marked slowdown in trading activity.
Local investors reasserted their dominance on the bourse, accounting for 73.1% of total activity — a sharp surge from 36.5% recorded in Wednesday’s session. The spike in local participation suggests a tentative rotation back into the market by domestic players as foreigners continued to pare down their exposure.
Total market capitalization stood at approximately USD 15.3 billion, with a daily turnover of KES 116.6 million, highlighting the relatively light volume environment prevailing at the NSE.
Top Movers: KCB Group Anchors Turnover, Safaricom Slips
KCB Group was the day’s standout counter, driving market liquidity and accounting for 39.3% of the day’s total turnover. Despite its prominence in volume terms, KCB’s share price remained stable, closing unchanged at KES 38.50.
Among the gainers:
I&M Group advanced 2.4% to close at KES 30.25, emerging as the day’s best-performing top mover.
Standard Chartered Bank Kenya recorded a marginal gain of 0.1%, closing at KES 300.25.
Co-operative Bank remained flat at KES 16.00, reflecting a lack of fresh catalysts for movement.
On the losing side, market heavyweights dragged down sentiment:
Safaricom declined 0.9% to settle at KES 17.20, closing as the worst-performing top mover for the day.