Equity Market Commentary
The market closed the week on a bearish note with the NASI, N10, NSE 20, and NSE 25 easing by 3.6% w/w, 4.2% w/w, 3.3% w/w, and 3.9% w/w, respectively.
Market activity declined to USD 24.3m (-17.2% w/w). Safaricom dominated market activity, accounting for 35.8% of the week’s turnover. The counter’s price function inched lower by 3.5% w/w to KES 28.75.
Of the top traded banking stocks, KCB Group, Equity Group, and BK Group dwindled by 8.6% w/w, 1.6% w/w, and 7.0% w/w to KES 58.75, KES 62.75, and KES 41.80, respectively.
Likewise, EABL retreated by 5.3% w/w to KES 221.50.
Uchumi was the week’s top gainer, up 45.9% w/w to close at KES 1.08. Conversely, Carbacid was the week’s leading laggard, down 10.8% w/w to KES 27.55.
Foreign investors were profit-taking, with net outflows of USD 4.8m. Co-op Bank led the buying charge, while Safaricom led the selling charge. Foreign investor activity rose to 38.3% from 22.2% in the prior week.
Expected in the week; Stanbic PMI – 3rd December 2025
