NSE Turnover Jumps 40% as Safaricom Leads Trading and Co-op Bank Skyrockets After Strong 3Q25 Results

The Nairobi Securities Exchange closed today’s session in a delicate balance of gains and losses, reflecting a market that is active, emotional, and increasingly sensitive to earnings momentum, foreign flows, and dividend declarations. The broader market posted a slight lift through the NASI, which edged up by 0.1 percent, signaling a mild uptick in overall market capitalization. At the same time, the N10, NSE 20, and NSE 25 indices collectively softened, slipping by between 0.1 and 0.3 percent, a reminder that while optimism is present, caution still dominates investor positioning. This mixed close underscores the competing forces at play—local investors driving volume, corporates releasing earnings, and foreign investors persistently rebalancing away from frontier markets.

Liquidity surged strongly across the session, with turnover expanding by 40.5 percent to hit USD 6.6 million. This marked one of the most active sessions of the month. Local investors once again anchored trading, commanding 75.9 percent of all activity despite easing from yesterday’s dominance of over 89 percent. Their participation continues to provide the stability the market needs, especially at a time when global investors maintain a conservative stance toward emerging and frontier markets. The robust turnover also reflects renewed interest in large-cap counters, particularly among retail and domestic institutional players who continue to find value opportunities in banking and telecommunications stocks.

Safaricom remained the heartbeat of the market, driving more than a third of the day’s total turnover. The counter gained 0.9 percent to close at KES 29.00, maintaining its role as the NSE’s liquidity king even as foreign investors extended their selling streak for the third consecutive session. Safaricom’s ability to attract local buying interest despite persistent foreign exits illustrates how deeply entrenched the stock is in domestic portfolios. The day also saw notable activity among tier-one banks, where reactions to earnings releases played out sharply on the boards. KCB Group shed 1.1 percent to KES 65.00, while Equity Group slipped 0.8 percent to KES 64.50, as both counters navigated a blend of foreign profit-taking and subdued demand. Co-op Bank, however, broke away from the banking pack, rallying an impressive 9.5 percent to KES 24.90. This surge came on the strength of its newly released 3Q25 results and its historic declaration of a maiden interim dividend of KES 1.00. Co-op Bank’s rally was a clear signal that the market rewarded resilience, balance sheet strength, and shareholder returns.

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The performance in the consumer and manufacturing counters painted a similarly nuanced picture. EABL eased by 2.1 percent to settle at KES 235.00, extending its recent bearish run as regional inflation, excise taxes, and muted consumption patterns continue to challenge its margins. Meanwhile, BAT held its ground at KES 450.00, reflecting stability in the face of regulatory headwinds and low trading volumes. Among the small-cap battlegrounds, Uchumi emerged as the day’s top gainer, jumping 10 percent to KES 0.44, fuelled largely by speculative positioning from oppo