Kenya Weekly Equities Market Update – 12th December 2025

Market Performance

The equities market recorded a mixed performance during the week:

• NSE 25: Gained 0.1%
• NSE 20: Declined 0.9%
• NSE 10: Declined 0.5%
• NASI: Declined 1.1%

📊 Year-to-Date (YTD) Returns:

• NSE 20: +43.5%
• NASI: +41.7%
• NSE 25: +38.1%
• NSE 10: +37.6%

✅ Top Gainers (Large Caps):

• KCB Group: +6.2%
• Diamond Trust Bank (DTBK): +4.5%
• NCBA Group: +3.6%

❌ Top Decliners (Large Caps):

• Co-operative Bank: -4.4%
• Safaricom Plc: -3.3%
• Stanbic Bank: -1.1%

Banking Sector Update

The banking sector index rose by 0.5% to 190.1, up from 189.1 the previous week. This was primarily supported by:

📈 Positive Movers:

• KCB Group: +6.2%
• DTBK: +4.5%
• NCBA Group: +3.6%

📉 Negative Drags:

• Co-operative Bank: -4.4%
• Stanbic Bank: -1.1%
• Equity Group: -0.8%

🔍 The overall sector outlook remains moderately bullish, driven by improved investor sentiment and banking resilience despite isolated declines.

Market Activity & Foreign Participation

• Equities Turnover:
  • ↑ 59.5% to USD 32.2 million (from USD 20.2 million last week)
  • YTD turnover: USD 1.034 billion
• Foreign Investor Activity:
  • Net position: USD +2.7 million (net buyers for the first time in 10 weeks)
  • Previous week: USD -3.2 million (net sellers)
  • YTD net foreign outflow: USD 93.5 million, vs USD 13.7 million in 2024

📌 Foreign participation remains volatile but turned positive this week, signaling renewed interest in select counters amid improved valuations.

Outlook

Despite the overall dip in headline indices, the uptick in banking stocks and foreign investor re-entry signals a resilient undertone in the market. Investors continue to respond to corporate performance, shifting monetary policy, and year-end positioning. Increased turnover and foreign inflows could support market momentum in the near term.