Kenya’s equities market extended its bullish momentum on December 17, 2025, supported by strong index performance and a notable rise in trading activity. Market turnover surged, driven largely by heavyweight counters, while local investors dominated participation despite renewed foreign selling pressure. The banking sector outperformed, leading gains across indices, as select stocks posted strong price appreciation. Globally, markets were mixed amid macroeconomic uncertainty, while fixed income and derivatives activity moderated.

Key Market Highlights

Equities Market

• The Nairobi All Share Index (NASI) rose by 0.8% to close at 180.77, maintaining the positive market trend

• Total equity turnover increased by 55.6%, reaching KES 822.24 million, signaling heightened market participation

• Local investors accounted for 64.3% of market activity, while foreign participation stood at 35.7%

• Foreign investors recorded net outflows of KES 183.44 million, reversing the previous session’s inflows

Top Traded & Market Movers

• Safaricom Plc was the most actively traded stock, contributing 46.4% of total market turnover, with prices closing flat at KES 28.00

• Top gainers included:

  • Longhorn Publishers (+9.5%)

  • East African Portland Cement (+8.5%)

  • NCBA Group (+6.3%)

• Top losers were led by:

  • Uchumi Supermarkets (-10.0%)

  • Kakuzi Plc (-3.0%)

  • Umeme Ltd (-2.6%)

Sector Performance

• The Banking Sector Index gained 1.8%, outperforming the broader market on strong investor interest in major lenders

• Industrial, manufacturing, and agricultural sectors recorded mixed performance, with selective stock-specific gains

Fixed Income & Derivatives

• Bond market turnover declined by 5.4% to KES 14.70 billion, with fixed coupon instruments accounting for the bulk of activity

• Treasury bill yields remained largely stable, with marginal declines across tenors

• Derivatives market activity softened, although open interest increased, suggesting sustained investor positioning

Global Markets Overview

• Global equity markets closed mixed amid concerns over economic data and profit-taking activity

• Oil prices edged lower on easing geopolitical tensions, while currency markets recorded modest movements

Read more 17th December 2025- Market Rockers Report

Global markets closed the week on a mixed note despite the U.S. Federal Reserve implementing a 25bps rate cut, a move that was largely priced in by investors. Market sentiment remained cautious as investors continued rotating away from highly valued AI-linked stocks toward more cyclical and value-driven sectors, including financials, healthcare, and industrials. European equities outperformed global peers, with Germany’s DAX gaining 3.3%, supported by expectations of potential policy easing by the European Central Bank.

Locally, the Nairobi Securities Exchange (NSE) recorded a bearish performance. The Nairobi All-Share Index (NASI) declined 1.1% week-on-week to close at 177.66 points, while market capitalization fell 1.6% to KES 2.79 trillion. Despite the decline in indices, trading activity surged by 59.0% to KES 4.16 billion, driven largely by increased domestic participation, which accounted for 67.5% of total market activity.

Foreign investor sentiment improved notably, with net foreign inflows of KES 346.6 million, reversing the net outflows recorded in the prior week. Jubilee Holdings Ltd emerged as the top gainer, rising 7.0%, while E.A. Portland Cement led the laggards with a 9.3% decline, largely attributed to profit-taking following recent takeover-driven speculation.

On the fixed income front, Treasury bill yields softened following the Central Bank of Kenya’s policy rate cut, with downward pressure observed across the yield curve. Secondary bond market activity eased by 9.4% to KES 54.8 billion, while Eurobond yields edged higher in the short term, though are expected to trend lower over time amid global monetary easing.

Fuel prices remained unchanged in the latest review, supported by government stabilization mechanisms despite rising landing costs for diesel and kerosene. With global oil prices subdued and the local currency stable, inflationary pressures are expected to remain contained in the near term.

Read more Weekly Rock Pulse 12th December 2025

The Kenyan capital markets posted a mixed performance on December 10, 2025, with equities trading lower overall despite selective strength across major indices. The Nairobi All-Share Index (NASI) closed slightly lower at 176.77, while the NSE-10, NSE-20, and NSE-25 indices registered marginal gains, reflecting cautious but targeted investor activity.

Market turnover fell sharply by 23.6% to KES 1.22 billion, even as foreign investor participation strengthened net inflows surged to KES 254.56 million, signaling renewed offshore interest in local equities. Equity Group dominated market activity, accounting for 49.3% of total turnover.

Top Movers

• Top Gainers: Crown Paints (+6.6%), Kakuzi (+5.1%), Standard Group (+4.2%), BOC Kenya (+3.6%), and Home Afrika (+2.8%).

• Top Losers: Longhorn Publishers (-7.3%), Uchumi (-4.9%), Eaagads (-4.4%), ABSA New Gold ETF (-4.1%), and Sameer Africa (-3.0%).

Global & Macro Highlights

Global markets were mixed as U.S. investors awaited the Federal Reserve’s next rate decision, with markets pricing in an anticipated rate cut. Oil prices remained under pressure following reports of Ukraine presenting a revised peace proposal to the U.S.—a development that could ease geopolitical tensions and increase supply expectations.

Fixed Income Market

Bond turnover dipped by 3.0% to KES 14.89 billion, with IFB1/2022/18Yr and IFB1/2022/19Yr emerging as the most traded instruments. The 91-day and 182-day T-bill rates saw slight upward adjustments, while the 364-day rate eased marginally.

Derivatives Market

The derivatives segment recorded a notable rebound, with the total value of contracts rising to KES 2.85 million and total volumes increasing from 200 to 490 contracts, signaling growing investor engagement.

Currency Market

The Kenyan Shilling showed mixed movements across major global currencies, with slight appreciation against the USD, EUR, and GBP, and a mild decline against the Chinese Yuan and Indian Rupee.

Read more10th December 2025- Market Rockers Report

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For a detailed breakdown of market performance, equity trends, fixed-income movements, global market shifts, and sector-level analysis, please download our latest Market Rockers Report (December Edition).
Read the full report here 9th December 2025- Market Rockers Report

The Kenyan equities market closed the day lower, with the Nairobi All-Share Index (NASI) slipping by 0.3% as bearish momentum dominated the session. Market turnover fell sharply by 28.5% to KES 598.13 million, while foreign investors recorded net outflows of KES 37.86 million, reversing the previous session’s inflows.

KCB Group led market activity accounting for over half of the day’s equity turnover despite a slight price decline. Uchumi Supermarkets topped the gainers’ chart with a 10% surge, while Crown Paints led the day’s losers with a 7.4% drop.

Global markets were broadly positive, buoyed by softer U.S. inflation data which boosted expectations of an upcoming Federal Reserve rate cut. In commodities, oil prices continued climbing amid renewed geopolitical tensions involving Russia and Ukraine.

In the fixed-income market, bond turnover declined by 32.7%, with IFB1/2022/19Yr emerging as the most actively traded paper. Exchange rates remained stable with minor changes across major global currencies.

For readers interested in full sector breakdowns, detailed equity statistics, fixed-income trends, and global market insights, the complete report is available for download below. 8th December 2025- Market Rockers Report

The Kenyan market closed on a bearish note, with major indices dipping as the Nairobi All-Share Index shed 1.4%. Despite the downward trend, market activity strengthened, driven by a 4.8% rise in equity turnover to KES 836.18 million. Foreign investor appetite improved significantly, shifting from previous-session outflows to net inflows of KES 101.24 million.

Kenya Power led trading activity, contributing nearly a quarter of total equity turnover, while Uchumi, Eaagads, and Centum topped the gainers list. On the downside, KenGen, East African Portland Cement, and Unga Group recorded the steepest declines of the day.

In the global landscape, U.S. markets traded mixed ahead of key inflation data, while oil prices climbed as geopolitical tensions between Russia and Ukraine intensified. Locally, bond turnover rose 14.8% driven by strong performance in FXD papers while derivative contracts surged sharply in value and volume.

For full sector-by-sector performance, detailed statistics, and global insights, readers can explore the full Market Rockers Report. 5th December 2025- Market Rockers Report

This week’s Rock Pulse report highlights a mixed global and local market environment shaped by inflation data, labour trends, and shifting investor sentiment.

Globally, markets posted modest gains as softer U.S. Core PCE inflation (2.8%) and weak labour data strengthened expectations of a December Federal Reserve rate cut now priced at an 87% probability. Most major global indices ended the week in positive territory, supported by improved risk appetite, although long-term bond yields edged higher on persistent inflation risks.

Locally, the Kenyan equities market registered a bearish week, with the Nairobi All Share Index (NASI) dipping 0.8% and market cap declining to KES 2.83 trillion. Trading activity fell by 17.3% as foreign participation dropped to 25%, signalling cautious offshore sentiment. Uchumi Supermarkets led the week’s gainers (+48.1%) following a return to profitability, while Car & General was the biggest loser.

Sector performance was mixed, with Commercial & Services outperforming (+5.3%) while Automobiles lagged. Safaricom saw slight gains after the government announced a premium-priced 15% stake sale to Vodafone South Africa executed privately to avoid market disruption.

In fixed income, strong demand for short-term securities continued, especially the 364-day T-bill, while secondary bond turnover declined slightly. Eurobond yields eased on expectations of U.S. policy easing. Kenya’s PMI surged to 55.0, signalling the strongest private-sector expansion since 2020, supported by rising orders, improved hiring, and steady margins.

As markets head into a crucial week with both the Central Bank of Kenya (Dec 9) and U.S. Federal Reserve (Dec 10) meetings, investors will be watching closely for potential rate cuts that could shift near-term market sentiment.

Download the full Weekly Rock Pulse report for complete data, sector analysis, and market insights. Weekly Rock Pulse 5th December 2025

Kenya’s equities market closed strongly bullish on December 4, 2025, with major indices posting notable gains and turnover rising sharply. The Nairobi All-Share Index (NASI) climbed by 1.8% to close at 182.08, while the NSE-10, NSE-20, and NSE-25 also advanced in a broad market uplift.

Equity turnover surged by an impressive 373.5% to KES 797.56 million, driven by heightened activity in large-cap counters. Safaricom Plc dominated trading, accounting for 56.3% of total market activity, with its share price rising 4.4% to KES 29.45.

Despite the bullish local performance, foreign investors were net sellers, recording KES 244.10 million in net outflows compared to a small inflow the previous session.

Top Movers

Top Gainers:

• Uchumi Supermarkets (+9.0%)

• WPP Scangroup (+7.9%)

• Unga Group (+6.7%)

• Kenya Airways (+5.9%)

• Stanbic Holdings (+4.8%)

Top Losers:

• East African Portland Cement (-8.1%)

• Standard Group (-3.5%)

• Eaagads Plc (-3.5%)

• Sanlam Kenya (-3.2%)

• BK Group (-2.7%)

Global and Macro Highlights

U.S. markets extended their rally as weak private payroll data strengthened expectations of a December Fed rate cut, boosting investor risk appetite.
Oil prices gained as peace talks between Russia and Ukraine stalled, reinforcing expectations that sanctions on Russian oil will remain in place, reducing oversupply risks.

Fixed Income Market

Bond turnover dipped slightly by 0.9% to KES 14.16 billion, though trading activity increased with 198 deals recorded. Key IFB bonds remained the most actively traded papers.

Derivatives Market

Derivative contracts posted higher activity, with total traded value rising to KES 521,211, and contract volumes increasing to 194.

Currency Market

The Kenyan Shilling weakened against most major currencies, including the USD, EUR, and GBP, reflecting global dollar sentiment and regional forex pressure.

Read more 4th December 2025- Market Rockers Report