Equities Market Update – Week Ending 4th April 2025

The Nairobi Securities Exchange (NSE) closed the first week of April on a mixed note, as gains in select large-cap stocks helped lift key indices, while declines in banking sector counters tempered overall performance.

Market Performance Overview

• NASI and NSE 25 registered modest weekly gains, indicating slight bullish sentiment, primarily driven by gains in select blue-chip counters.
• The NSE 20, which is more price-weighted and banking-heavy, posted a minor decline, reflecting pressure on some financial stocks.

Market Movers: Key Gainers & Decliners

Top Gainers (Large-Cap Stocks):

• EABL: ▲ 3.2% — Positive investor sentiment likely driven by dividend expectations and resilient fundamentals.
• NCBA Group: ▲ 2.9% — Gained following sustained profitability and growth optimism.
• Stanbic Bank: ▲ 2.3% — Continued to gain on the back of strong FY2024 results released earlier.

Key Decliners (Large-Cap Stocks):

• KCB Group: ▼ 5.7% — Under pressure despite recent acquisition news; likely profit-taking or concerns over margin compression.
• Absa Bank Kenya: ▼ 4.7% — Retraced after recent strong performance.
• DTB-K: ▼ 1.0% — Slight decline after rallying post-earnings release.

Earnings Update: Jubilee Holdings Limited (JHL)

Jubilee Holdings released its FY’2024 financial results, reporting a Profit After Tax (PAT) of Kshs 4.7 billion, an impressive 82.5% increase from Kshs 2.6 billion in FY’2023.

📌 Performance Drivers:

• Insurance Revenue: Rose by 13.5% to Kshs 25.7 billion, up from Kshs 22.6 billion.
• Insurance Expenses: Increased by 11.4%, hitting Kshs 24.2 billion.

💡 Insight: The improved profitability points to stronger underwriting margins and enhanced operational efficiency, although rising expenses remain a point to monitor.

Key Takeaways

• The market reflected a cautious optimism, with broad-based index gains but sector-specific selloffs in banking.
• Investor sentiment remained stock-specific, driven largely by earnings momentum and rebalancing post-dividend season.
• FY2024 results continue to shape market movements, with upcoming announcements likely to influence sentiment in the short term.

📎 Disclaimer

This content is intended for informational purposes only and does not constitute investment advice. Always consult a licensed financial advisor before making any financial decisions.