Equities Rally as Foreign Investors Return

Market Summary

The Nairobi Securities Exchange began the week on a bullish note, with the Nairobi All Share Index (NASI) advancing 0.5% to close at 210.87. Gains were supported by improved liquidity, increased investor participation and a significant turnaround in foreign investor activity.

Equity turnover surged 48.1% to KES 1.03 billion, reflecting renewed market activity. Foreign investors recorded net inflows of KES 37.53 million, a notable reversal from the previous session’s net outflows of KES 204.55 million.

Market capitalization rose to KES 3.33 trillion, up 0.5% from the prior session.

Key Highlights

Equities Market

• NASI: +0.5%

• NSE-10: +0.3%

• NSE-20: +0.2%

• NSE-25: +0.3%

• Banking Sector Index: +0.3%

• Equity turnover: KES 1.03Bn (+48.1%)

• Foreign participation: 18.7% of total activity

• KCB Group was the most traded counter (KES 219.37Mn turnover)

Top Gainers

• Uchumi Supermarkets: +9.2%

• Flame Tree Group: +8.9%

• Kenya Airways: +7.0%

• Sasini: +5.7%

• E.A Portland Cement: +4.3%

 Top Losers

• Unga Group: -4.5%

• Home Afrika: -3.5%

• Eveready Plc: -3.0%

• Shri Krishana Overseas: -2.7%

• Limuru Tea: -2.6%

Fixed Income Market

Bond turnover increased 11.2% to KES 32.21Bn, although the number of trades declined by 38.2%. Treasury bill yields eased marginally across all tenors:

• 91-day: 7.59%

• 182-day: 7.75%

• 364-day: 8.90%

Global Markets

Global equities recorded modest gains across major U.S. indices, while oil prices remain elevated amid geopolitical concerns.

For more insights and detailed sector analysis

23rd February 2026- Market Rockers Report

 Global Markets Rebound Amid Policy Clarity

Global equity markets staged a strong recovery this week, rebounding from prior volatility driven by geopolitical tensions and AI disruption concerns.

• U.S. Markets:

  • Nasdaq Composite: +1.5%

  • S&P 500: +1.0%

  • Dow Jones: +0.3%
    Gains were supported by improved sentiment following a U.S. Supreme Court ruling on global tariffs and renewed confidence in economic resilience.

• Europe: STOXX Europe 600 gained over 2%, with the FTSE 100 and DAX closing higher on strong earnings and industrial momentum.

• Asia: Mixed performance, with Japan’s Nikkei easing slightly while Chinese markets recorded thin trading during Lunar New Year holidays.

• Global Fixed Income:
  U.S. yields edged higher (10-year at ~4.09%) amid shifting rate expectations, while European and Japanese yields softened modestly.

 Kenya Equity Market Overview

The Nairobi Securities Exchange experienced a sharp correction, marking its first full-week decline since March 2025.

 Market Performance

• NASI: 209.88 (-3.1% W/W)

• Market Cap: KES 3.31 Trillion (-3.1%)

• Equity Turnover: KES 5.81 Billion (-21.0%)

• Net Foreign Outflows: KES 855.40 Million

Investor wealth declined by approximately KES 107.47 Billion, reflecting profit-taking after extended gains and shifting liquidity toward bonds following the CBK rate cut.

 Sector & Stock Movers

 Top Gainers

• Uchumi Supermarkets (+37.3%)

• Shri Krishana Overseas (+32.9%)

• Eaagads Ltd (+19.0%)

• CIC Insurance Group (+12.3%)

• Flame Tree Group (+12.2%)

 Top Decliners

• Eveready East Africa (-19.2%)

• Sasini Plc (-12.4%)

• Nation Media Group (-6.7%)

• Express Kenya (-6.5%)

• Kenya Airways (-5.8%)

Insurance stocks showed relative resilience, while telecommunications and select large caps saw notable profit-taking.

 Weekly Top Movers by Turnover

Stanbic Holdings led trading activity with KES 1.35 Billion in turnover and strong foreign participation (85.9%), closing up 5.6%.

Major banking counters, Safaricom, and East African Breweries also featured prominently in weekly activity.

 Fixed Income Market Update

 Treasury Bills

Investor appetite remained strong:

• 91-Day: 7.59% (▼ 1.95bps)

• 182-Day: 7.75% (▼ 2.01bps)

• 364-Day: 8.90% (▼ 7.45bps)

Bond turnover in the secondary market surged 58.0% to KES 113.4 Billion, reflecting heightened demand amid expectations of further monetary easing.

 Eurobond Market

Eurobond yields edged up slightly (≈4bps) following recent rallies supported by Moody’s upgrade and improved macro sentiment.

 Macroeconomic Spotlight

Kenya’s $500M Eurobond Buyback & $2.25B New Issuance

In a proactive debt management move:

• Kenya launched a $500M Eurobond buyback targeting 2028 and 2032 maturities.

• Issued $2.25B dual-tranche Eurobond (2034 & 2039 amortizing notes).

• The issuance was oversubscribed, signaling renewed investor confidence.

• The move smooths Kenya’s external debt maturity profile and reduces refinancing risk.

This aligns with broader African sovereign refinancing trends amid improving global market conditions.

 Outlook

Market direction will hinge on:

• Upcoming full-year earnings announcements

• Dividend declarations

• Bond yield movements

• Foreign investor flows

• Liquidity conditions post-rate cut

While equities corrected sharply this week, strong bond demand and improved external financing conditions suggest underlying macro stabilization.

Read more: Weekly Rock Pulse – 20th February 2026

The Nairobi Securities Exchange extended its bearish momentum in today’s trading session, with key indices closing lower amid declining turnover and sustained foreign investor outflows. The Nairobi All Share Index (NASI) dipped 0.6% to 209.88, while total equity turnover fell 6.3% to KES 698.29 million.

Foreign investors remained net sellers, recording outflows of KES 204.55 million compared to KES 47.44 million in the previous session. Market participation remained largely local at 65.3%, with foreign participation accounting for 34.7%.

In the fixed income market, bond turnover surged 38.3% to KES 28.97 billion, signaling increased activity in government securities. Globally, major U.S. indices retreated, while oil prices strengthened on geopolitical tensions in the Middle East.

Key Highlights

 Equities Market

• NASI declined 0.6% to 209.88.

• NSE-10, NSE-20, NSE-25 all closed lower, reflecting broad-based weakness.

• Equity turnover decreased to KES 698.29 million.

• Net foreign outflows widened to KES 204.55 million.

 Top Movers

Top Gainers:

• Shri Krishana Overseas Plc ▲ 9.5%

• Uchumi Supermarkets ▲ 7.0%

• Centum Investments ▲ 3.0%

Top Losers:

• Sasini ▼ 8.4%

• Eveready Plc ▼ 7.5%

• Crown Paints ▼ 4.4%

Most Traded Counters

• BK Group Plc – 23.3% of total market turnover (KES 162.87 million)

• Safaricom Plc – 19.6% of total turnover

• KCB Group Plc – 13.8% of total turnover

 Fixed Income Market

• Bond turnover increased to KES 28.97 billion.

• FXD segment accounted for 68.83% of trades above KES 50 million.

• Treasury bill yields eased slightly across the 91-day, 182-day, and 364-day tenors.

 Global Markets

• U.S. markets closed lower:

  • Dow Jones ▼ 0.5%

  • S&P 500 ▼ 0.5%

  • Nasdaq ▼ 0.3%

• Oil prices gained on renewed geopolitical tensions, with WTI crude rising 2.1%.

• U.S. dollar index strengthened marginally.

Currency Update

• USD/KES remained stable at 129.02.

• Euro and Sterling posted slight gains.

• Regional currencies showed mixed performance.

Capital Markets News

• NCBA Group Plc – Public announcement

• Safaricom Plc – Interim dividend notice

• Standard Group Plc – Suspension of previously proposed rights issue

• Umeme Limited – Profit warning

• KenGen Plc – Unaudited half-year financial results (Dec 2025)

For more insights and detailed sector analysis 20th February 2026- Market Rockers Report

The Nairobi Securities Exchange continued its downward trend as key indices declined amid significantly reduced trading activity and increased foreign investor outflows. The Nairobi All Share Index (NASI) fell 0.3% to close at 214.34, while equity turnover dropped sharply by 54.1% to KES 952.64 million, reflecting weaker investor participation.

Foreign investors remained net sellers, with net outflows widening to KES 232.61 million compared to KES 31.99 million in the previous session. Local investors dominated market participation, accounting for 82.3% of total activity.

In the fixed income market, bond turnover declined by 10.7% to KES 25.48 billion, while global markets remained mixed, with modest gains in major U.S. indices and declining oil prices due to easing geopolitical concerns.

18th February 2026- Market Rock…

Key Highlights

 Equities Market Performance

• NASI declined by 0.3% to 214.34.

• NSE-20 Index recorded the biggest drop among major indices, falling 0.7%.

• Market capitalization decreased slightly to KES 3.38 trillion.

• Equity turnover dropped significantly to KES 952.64 million.

• Foreign investor outflows increased sharply to KES 232.61 million.

Top Movers

Top Gainers:

• Shri Krishana Overseas Plc ▲ 9.7%

• Uchumi Supermarkets ▲ 9.6%

• Unga Group ▲ 6.4%

• Longhorn Publishers ▲ 6.0%

Top Losers:

• Olympia Capital Holdings ▼ 6.8%

• Sasini Plc ▼ 6.1%

• Eaagads Plc ▼ 5.8%

• Nairobi Securities Exchange Plc ▼ 4.7%

 Most Traded Stocks

• East African Breweries Plc – 19.0% of total market turnover

• Safaricom Plc – 18.0% of total turnover

• KCB Group Plc – 12.7% of total turnover

• Equity Group Holdings Plc – 8.0% of total turnover

 Fixed Income Market

• Bond turnover declined to KES 25.48 billion.

• Treasury bill yields eased slightly across all tenors.

• FXD bonds accounted for over 80% of large-value trades.

 Global Market Overview

• U.S. markets recorded marginal gains:

  • Dow Jones ▲ 0.1%

  • S&P 500 ▲ 0.1%

  • Nasdaq ▲ 0.1%

• Oil prices declined as geopolitical tensions eased and supply outlook improved.

• The U.S. dollar strengthened slightly against major currencies.

  18th February 2026- Market Rock…

Currency Market Update

• USD/KES remained stable at 129.02.

• Euro and Sterling strengthened slightly.

• Regional currencies showed mixed performance, with the Ugandan and Tanzanian shillings weakening marginally against the Kenyan shilling.

Capital Markets News

Key corporate developments included:

• NCBA Group Plc – Public announcement

• Safaricom Plc – Interim dividend notice

• Standard Group Plc – Suspension of rights issue

• Umeme Limited – Profit warning

• KenGen Plc – Release of unaudited half-year financial results

For more market intelligence and detailed analysis 18th February 2026- Market Rockers Report

Market Overview

The Nairobi Securities Exchange recorded another decline in benchmark indices on 17th February 2026. However, trading activity surged significantly, and foreign outflows reduced sharply  suggesting a potential shift in investor positioning.

 Performance Snapshot

• NASI: 215.05 (-0.4%)

• Equity Turnover: KES 2.07 Billion (+54.6%)

• Market Capitalization: KES 3,393.74 Billion (-0.4%)

• Net Foreign Outflows: KES 31.99 Million

• Banking Sector Index: +0.6%

Despite the index decline, the sharp rise in turnover indicates renewed trading interest, particularly in large-cap counters.

 Top Gainers

• Eaagads Plc (+9.6%)

• Crown Paints (+9.3%)

• Unga Group (+9.1%)

• Uchumi Supermarkets (+7.4%)

• Britam Holdings (+7.0%)

Top Losers

• Longhorn Publishers (-6.3%)

• Car & General (-3.5%)

• Express Kenya (-2.6%)

• Safaricom (-2.1%)

Trading Activity & Sector Insights

• Stanbic Holdings dominated trading, contributing 53.7% of total turnover (KES 1.11 Billion) and closing 4.5% higher at KES 256.25.

• Foreign investor participation increased to 63.5%, while local participation declined to 36.5%.

• The banking sector showed resilience, closing in positive territory.

Market Insight

Although indices remain under pressure, improved liquidity and a significant reduction in foreign outflows suggest emerging stabilization. Increased foreign participation and strong performance in select banking counters may provide directional support in the near term.

Read more : 17th February 2026- Market Rockers Report

Overview

The Market Rockers Reports provide timely insights into the performance of the Nairobi Securities Exchange (NSE), offering investors, partners, and stakeholders a clear view of daily market movements, trading activity, and investor sentiment. These reports highlight key index movements, top gainers and losers, turnover performance, and foreign investor activity to support informed decision-making.

Market Overview

The equities market recorded a bearish session, with key indices closing lower, reflecting cautious investor sentiment. Despite the overall decline, trading activity strengthened, indicating continued market participation.

Key Performance Indicators

• Nairobi All Share Index (NASI): Declined by 0.3% to close at 215.95

• NSE-10 Index: Decreased by 0.8%

• NSE-20 Index: Increased by 1.1%, showing resilience among selected blue-chip stocks

• Market Capitalisation: Declined by 0.3%

• Equity Turnover: Increased by 8.8% to KES 1.34 billion

Investor Activity

• Foreign investor sentiment remained negative

• Net foreign outflows recorded at KES 338.82 million, indicating continued foreign selling pressure

Top Gainers

• Kenya Re-Insurance: +9.0%

• Eaagads Plc: +8.9%

• CIC Group: +8.3%

• Britam Holdings: +5.6%

• East African Portland Cement: +5.2%

Top Losers

• Express Kenya: -6.2%

• TPS Eastern Africa: -5.6%

• Nation Media Group: -5.1%

• Kakuzi Plc: -3.9%

• Kurwitu Ventures: -3.3%

Key Takeaway

While overall market sentiment was bearish, increased turnover signaled sustained investor engagement, particularly in insurance and industrial sector stocks.

Read more: 16th February 2026- Market Rockers Report