The Weekly Rock Pulse provides a concise snapshot of global and Kenyan financial markets, helping investors and decision-makers stay grounded amid shifting macro and policy dynamics.

This week, global markets were mixed as earnings season, central bank policy signals, and sector rotation shaped sentiment. In the U.S., strong mega-cap earnings supported equities despite lingering uncertainty around interest rate direction. Europe showed resilience in defensives, while Asian markets softened on growth and consumption concerns.

Locally, the Nairobi Securities Exchange recorded bullish momentum, driven by stronger trading activity and renewed domestic investor participation. Select earnings — particularly in manufacturing and banking  guided sector performance, while fixed income markets saw strong demand for longer-dated Treasury Bills, reflecting cautious but confident positioning.

Inflation continued to ease, remaining within the CBK target range, reinforcing expectations of macro stability in 2026. Overall, the week highlighted a market balancing opportunity with caution, anchored by improving local fundamentals and evolving global signals.

Weekly Rock Pulse – 30th Januar…

Key Highlights

• Global equities ended mixed as earnings, policy uncertainty, and sector rotation dominated sentiment

• U.S. mega-caps delivered strong earnings, while AI-related spending raised near-term questions

• Kenyan equities posted a 0.4% weekly gain, supported by higher turnover and domestic participation

• Trading activity rose sharply to KES 4.45 billion, with domestic investors accounting for over 70% of activity

• Treasury Bills auction was heavily oversubscribed, with strong demand for 364-day paper

• Eurobond yields declined following improved investor confidence and Moody’s upgrade

• January 2026 inflation eased to 4.4%, remaining comfortably within the CBK target range

• Market focus shifts to upcoming earnings releases, inflation data, and policy direction

Read More: Weekly Rock Pulse – 30th January 2026_

Rockview Monthly  January 2026 provides a comprehensive analysis of global, regional, and Kenyan capital markets as the year begins on a firmer footing. The report highlights policy-driven equity gains, sector leadership dynamics, evolving foreign investor flows, and a flattening yield curve amid sustained monetary easing. With banking stocks leading performance and earnings season approaching, the outlook emphasizes selective positioning, quality fundamentals, and income-driven strategies.

Website Highlights

Global equities advanced on easing inflation and clearer monetary policy expectations

Sub-Saharan African markets opened 2026 strongly, led by Kenya, Tanzania, and Egypt

NSE indices recorded broad-based gains, with banking stocks driving market performance

NCBA rallied following the proposed Nedbank acquisition, signaling renewed foreign strategic interest

EABL delivered strong earnings growth and declared a higher interim dividend

Market capitalization rose to KES 3.08 trillion despite softer trading volumes

Yield curve flattened as medium- and long-term yields declined

Investor focus shifts to full-year earnings, dividends, and FX stability

Read more:Rock_Advisors_Rockview_Monthly_February_2026

Market at a Glance

• Market sentiment turned bullish, with the Nairobi All Share Index (NASI) gaining 0.2% to close at 195.36.

• All major NSE indices closed higher, led by the NSE-10 and NSE-25 indices (+0.3% each).

• Market capitalisation rose by 0.2% to KES 3.08 trillion despite lower trading activity.

• Equity turnover declined sharply by 60.3% to KES 352.18 million, signalling cautious participation.

Investor Activity

• Foreign investors returned as net buyers, recording KES 7.0 million in net inflows after prior session outflows.

• Local investors dominated activity, accounting for 77.3% of market participation.

• Equity Group Holdings was the most traded counter, contributing 39.4% of total market turnover.

Top Movers

Top Gainers

• East African Breweries Plc (+5.4%)

• Uchumi Supermarkets Plc (+3.3%)

• Eveready East Africa Plc (+3.0%)

Top Losers

• Kenya Airways Plc (-6.8%)

• Olympia Capital Holdings Ltd (-6.1%)

• ABSA New Gold ETF (-5.5%)

Fixed Income & FX Markets

• Bond market turnover declined by 15.6% to KES 15.92 billion.

• Treasury bill yields were mixed, with the 91-day rate easing while longer tenors edged slightly higher.

• The Kenya Shilling remained largely stable, with marginal movements against major global and regional currencies.

Global Markets Snapshot

• U.S. equities softened, led by declines in large-cap technology stocks amid post-earnings repositioning.

• Oil prices surged over 3%, driven by heightened geopolitical tensions in the Middle East.

• Global investor sentiment remained selective and cautious, favouring defensives over growth assets.

 Summary

Kenyan equities closed higher on January 30, 2026, as the market posted modest gains across all major indices despite a significant slowdown in trading activity. The Nairobi All Share Index rose by 0.2%, supported by renewed foreign investor inflows and selective buying in large-cap stocks. Equity Group dominated trading volumes, while East African Breweries led the day’s gainers.

Fixed income markets recorded lower turnover, with Treasury bill yields showing mixed movements across maturities. The Kenya Shilling remained stable against key currencies. Globally, markets softened as investors reassessed valuations following the U.S. Federal Reserve’s policy stance, while a sharp rise in oil prices reflected escalating geopolitical risks. Overall, the session reflected cautious optimism, with investors balancing local market resilience against global uncertainty.

Read More: 30th January 2026- Market Rockers Report

Market Summary

The Nairobi Securities Exchange (NSE) closed the session bearish, with most key indices declining amid foreign investor sell-offs. Despite the subdued sentiment, market activity strengthened, supported by a sharp rise in equity turnover and strong trading in select banking and blue-chip counters.

Foreign participation tilted negative, reversing the previous session’s inflows, while local investors remained active. The banking sector continued to anchor market liquidity, led by KCB Group and Safaricom.

Key Market Highlights
Equities Market

Nairobi All Share Index (NASI) declined by 0.3% to close at 195.05

NSE-10, NSE-25, and Banking Index all posted losses, while NSE-20 edged up 0.2%

Equity turnover surged 50.1% to KES 886.21 Mn, indicating heightened trading interest despite weak sentiment

Foreign investors recorded net outflows of KES 47.48 Mn, reversing prior inflows of KES 508.33 Mn

KCB Group dominated trading activity, accounting for 33.3% of total market turnover

Top Gainers

Britam Holdings (+9.1%)

ABSA New Gold ETF (+5.3%)

Crown Paints (+5.0%)

Diamond Trust Bank (+4.1%)

B.O.C Kenya (+2.6%)

Top Losers

Kenya Airways (-9.8%)

Uchumi Supermarkets (-4.7%)

WPP Scangroup (-4.2%)

Express Kenya (-4.1%)

Liberty Kenya Holdings (-2.7%)

Fixed Income Market

Bond turnover jumped 79.2% to KES 18.86 Bn

The FXD segment dominated trading, accounting for 81.9% of large-value trades

91-day T-bill rate edged up to 7.73%, while 182-day and 364-day rates remained largely stable

Increased activity suggests renewed institutional positioning in government securities

Global Market Overview

Global markets traded mixed and largely sideways

The U.S. Federal Reserve held interest rates steady, reinforcing cautious investor sentiment

Gold rallied to record highs, driven by safe-haven demand

Oil prices strengthened, supported by geopolitical tensions, supply disruptions, and a weaker U.S. dollar

Currency & FX

The Kenya Shilling remained stable against the US Dollar

Mild appreciation recorded against the Euro, Sterling Pound, South African Rand, and regional currencies

FX stability continues to provide short-term macro support for domestic markets

Derivatives Market

Trading volumes and contract values declined sharply

Open interest increased, suggesting positioning for future market movements rather than active trading

Overall Market Takeaway

Market sentiment remained cautious, weighed down by foreign outflows and global uncertainty. However, strong turnover, resilient banking stocks, and active fixed income trading point to underlying investor engagement rather than broad-based risk aversion. Short-term volatility is likely to persist, with attention shifting to corporate actions, earnings, and global monetary signals.

Read More: 29th January 2026- Market Rockers Report

Market Summary

The Nairobi Securities Exchange closed the session bullish, extending gains across all major indices as strong foreign investor inflows underpinned market sentiment. Despite a notable decline in equity turnover, select large-cap and defensive counters supported the upward momentum, with significant activity concentrated in exchange-traded and banking securities.

Foreign participation increased meaningfully, positioning the market ahead of regional peers amid supportive global cues.

Key Market Highlights

Equities Market

• Nairobi All Share Index (NASI) rose 0.4% to close at 195.71

• NSE-25 Index led gains, advancing 0.6%, while Banking Sector Index gained 0.6%

• Equity turnover declined 42.9% to KES 590.31 Mn, reflecting selective trading

• Foreign investors recorded net inflows of KES 508.33 Mn, up sharply from KES 106.64 Mn in the prior session

• ABSA New Gold ETF dominated market activity, accounting for 67.5% of total equity turnover

Top Gainers

• Sanlam Kenya (+7.3%)

• NCBA Group (+5.3%)

• ABSA New Gold ETF (+4.7%)

• CIC Insurance Group (+4.6%)

• Standard Group (+4.4%)

Top Losers

• Britam Holdings (-5.3%)

• Crown Paints (-5.2%)

• Nairobi Business Ventures (-3.4%)

• Kakuzi Plc (-2.1%)

• BK Group Plc (-2.1%)

Fixed Income Market

• Bond turnover declined 41.0% to KES 10.53 Bn

• The FXD segment dominated, accounting for 87.7% of high-value trades

• 91-day T-bill rates edged higher, while 182-day and 364-day rates remained largely stable

• Softer activity suggests temporary rotation toward equities and alternative instruments

Global Market Overview

• Global markets traded mixed to firm, with the S&P 500 and Nasdaq reaching new record highs

• Optimism was driven by better-than-expected corporate earnings, particularly in industrial and logistics sectors

• Oil prices strengthened, supported by U.S. winter storm disruptions and ongoing geopolitical risks, though gains were capped by ample global supply expectations

Currency & FX

• The Kenya Shilling remained broadly stable against the US Dollar

• Mild depreciation recorded against major global currencies, reflecting stronger external demand

• Regional currency performance remained mixed, with slight strengthening against the Ugandan and Tanzanian Shillings

Derivatives Market

• Contract volumes and values increased sharply, pointing to renewed speculative and hedging activity

• Open interest rose, signaling expectations of continued short-term market movement

Overall Market Takeaway

The market closed on a strong footing, buoyed by robust foreign inflows and broad-based index gains, even as turnover softened. Investor focus remained concentrated in ETFs, banks, and defensive stocks, with global earnings momentum and commodity strength providing additional support. Near-term performance will likely hinge on sustained foreign participation and evolving global macro signals.

Read More:28th January 2026- Market Rockers Report 2

The Market Rockers Report – January 22, 2026 provides a comprehensive snapshot of market activity across equities, fixed income, currencies, and global markets. The Kenyan equities market closed bullish, supported by gains across major indices despite reduced trading turnover and continued foreign investor outflows. Banking stocks led sector performance, while select counters recorded notable price movements.

Globally, markets rebounded following easing geopolitical tensions, lifting investor sentiment across U.S. equities and risk assets. In fixed income, bond turnover softened slightly, while derivatives activity recorded strong growth in both value and volumes. The report also captures key currency movements, capital market announcements, and sector-level performance to support informed investment decision-making.

Key Highlights

• Equities Market Performance

  • Nairobi All Share Index (NASI) rose 0.5% to close at 194.49

  • NSE 20, NSE 25, and Banking Sector indices all recorded gains

  • Market capitalization increased by 0.6% to KES 3.07 trillion

• Trading Activity

  • Equity turnover declined by 10.0% to KES 675.72 million

  • BAT Kenya emerged as the most traded counter, accounting for 23.4% of total market turnover

  • Foreign investors remained net sellers, with outflows of KES 161.05 million

• Top Movers

  • Top Gainers: Kenya Airways (+9.6%), NCBA Group (+9.5%)

  • Top Losers: Standard Group (-7.7%), Eaagads Plc (-4.1%)

• Fixed Income & Derivatives

  • Bond turnover dipped marginally to KES 17.39 billion

  • Derivatives market activity surged, with contract value rising to KES 1.8 million

  • Open interest increased, signalling growing market participation

• Global & FX Markets

  • U.S. equity indices closed higher following geopolitical de-escalation

  • The Kenya Shilling remained largely stable against major currencies

  • Oil prices were mixed amid easing risk premiums and supply considerations

Read more:  22nd January 2026- Market Rockers Report

Daily Market Summary & Key Highlights

The Kenyan equities market remained under pressure as bearish sentiment persisted, driven largely by sustained foreign investor outflows and cautious global market conditions. Despite the decline in headline indices, trading activity picked up significantly, signaling selective investor interest in specific counters.

Key Market Highlights

• All major NSE indices declined by 0.2%, with the Nairobi All Share Index (NASI) closing at 193.43.

• Equity turnover surged 126.4% to KES 750.45 million, indicating increased market participation.

• Foreign investors recorded net outflows of KES 273.12 million, deepening bearish pressure.

• Safaricom Plc was the most actively traded stock, accounting for 23.1% of total market turnover.

• Market capitalization edged lower to KES 3.05 trillion, reflecting broad-based price declines.

Top Movers

Top Gainers

• Kenya Airways (+7.8%)

• Standard Group (+5.4%)

• WPP Scangroup (+4.3%)

• ABSA New Gold ETF (+3.1%)

• Kenya Power (+2.8%)

Top Losers

• Uchumi Supermarkets (−5.3%)

• Longhorn Publishers (−4.5%)

• Shri Krishana Overseas (−4.2%)

• Flame Tree Group (−2.8%)

• Satrix MSCI World Feeder ETF (−2.8%)

Fixed Income & FX Snapshot

• Bond turnover declined 18.1% to KES 17.69 billion, with reduced trading activity across tenors.

• The 91-day Treasury bill rate eased to 7.70%, reflecting stable liquidity conditions.

• The Kenya Shilling traded mixed against major currencies, weakening slightly against the Euro and Sterling Pound.

Global Market Overview

Global markets recorded sharp losses amid renewed geopolitical and trade tensions. U.S. equities posted their worst session since October, while risk-off sentiment boosted demand for gold and crude oil, with WTI crude rising 1.6% to USD 60.34 per barrel.

Outlook

Near-term market performance is expected to remain cautious as investors monitor global developments, foreign flow trends, and upcoming corporate actions. Selective stock picking and defensive positioning are likely to dominate trading behavior.

Read more: 21st January 2026- Market Rockers Report

The Kenyan equities market recorded a subdued trading session as cautious investor sentiment persisted. The Nairobi All Share Index (NASI) closed marginally higher at 193.84, reflecting a 0.1% gain, while market turnover declined significantly, signalling reduced trading activity.

Foreign investors continued to offload positions, registering net outflows of KES 2.39 million, although this marked an improvement from the previous session. Equity Group Holdings Plc dominated market activity, contributing nearly a third of total equity turnover despite a slight price dip.

On the fixed income front, activity strengthened considerably, with bond turnover increasing by 39.8% to KES 21.60 billion, driven largely by increased participation in fixed coupon instruments. The FXD segment accounted for the majority of large-value trades.

Global markets were relatively quiet, with US equities closed for a public holiday. Meanwhile, oil prices edged higher following positive Chinese GDP data, though geopolitical tensions continued to cap gains.

Market Highlights

• NASI up 0.1% to 193.84

• Equity turnover down 39.2% to KES 331.52 Mn

• Net foreign outflows of KES 2.39 Mn

• Equity Group leads trading with 28.9% market share

• Bond turnover rises to KES 21.60 Bn

• ABSA New Gold ETF tops gainers with a 74.4% surge

This report provides a comprehensive overview of equities, fixed income, derivatives, exchange rates, and key capital market developments shaping the investment landscape.

Read more: 20th January 2026- Market Rockers Report

Daily Market Snapshot & Key Insights

The Nairobi Securities Exchange (NSE) closed the trading session on a cautious note, with equities turning mildly bearish despite a sharp rise in market activity. Investor sentiment remained pressured by sustained foreign outflows, even as select counters recorded strong gains and turnover more than doubled from the previous session.

Market Highlights

• NASI declined marginally by 0.1% to close at 193.60, reflecting subdued market sentiment.

• Equity turnover surged by 117.6% to KES 545.3 million, signaling increased trading activity.

• Foreign investors remained net sellers, recording net outflows of KES 146.2 million, sharply higher than the previous session.

• Stanbic Holdings led market activity, accounting for 48.0% of total equity turnover, despite a 1.0% price decline.

• Kenya Airways (+8.6%), Uchumi Supermarkets (+5.8%), and Sanlam Kenya (+5.3%) topped the gainers list.

• Standard Group (-7.8%) and Olympia Capital (-7.4%) led the losers.

Sector & Asset Class Overview

• Banking stocks were mixed, with heavy volumes in KCB Group and Stanbic Holdings.

• Bond market activity strengthened, with turnover rising to KES 15.46 billion, driven mainly by fixed coupon bonds.

• Treasury bill rates remained largely stable, with the 91-day bill easing slightly to 7.70%.

• The Kenya Shilling held steady against the US Dollar at KES 129.02, while showing mixed performance against other major currencies.

• Derivatives market recorded no trading activity during the session.

Global Markets Snapshot

• Global equities were mostly flat to slightly weaker ahead of the US holiday, as investors trimmed positions amid mixed earnings and geopolitical uncertainty.

• Oil prices edged higher, supported by short covering and lingering Middle East supply concerns, though gains were capped by ample global supply.

• Safe-haven demand remained elevated, reflecting cautious global sentiment.

Read More: 19th January 2026- Market Rockers Report 2

Kenya’s capital markets recorded a positive performance over the week, underpinned by strong domestic investor participation and selective sector gains, despite reduced trading activity and sustained foreign investor outflows.

Equity Market Overview

• The Nairobi All Share Index (NASI) rose 1.0% week-on-week to 193.87 points

• Market capitalisation increased to KES 3.06 trillion

• Equity turnover declined to KES 2.57 billion, reflecting cautious trading

• Domestic investors dominated activity, accounting for 68.5% of total turnover

Sector Performance

• Construction & Allied led gains, supported by strong performance in East African Portland Cement

• Agriculture stocks advanced on improved earnings outlooks and favourable commodity trends

• Automobiles & Accessories gained on continued investor interest in Car & General

• Manufacturing & Allied and Telecommunications lagged due to company-specific and regulatory concerns

Fixed Income Market

• Treasury bill auctions recorded strong subscription levels, particularly in longer-dated tenors

• Short-term yields declined modestly, reflecting easing liquidity conditions

• Secondary bond market turnover increased significantly, driven by activity in longer-dated FXD instruments

Outlook

Investor focus in the coming weeks will remain on corporate earnings, dividend announcements, monetary policy signals, and evolving global geopolitical developments.

Read more: Weekly Rock Pulse 16th January 2026