Equities & Forex
Kenya Markets — Week ending 23 May 2026
Safaricom rallied +8.42% to lift the NASI to 206.21 (+10.52% YTD), the NSE 20 held flat at 3,488, and the Shilling closed at 129.70 — marginally weaker but cushioned by reserves and diaspora flows.
The Read
Safaricom rallies +8.42%: NSE NASI up 0.3% WoW to 206.21; YTD gain now 10.52%.
NSE 20 flat at 3,488: Blue-chip banks mixed; KCB down 0.37%, Equity leads volumes.
KES/USD at 129.70: Marginally weaker (-0.27% MoM), supported by CBK reserves and diaspora flows.
Key Metrics
NASI: 206.21 — +0.30% WoW | +10.52% YTD
NSE 20: 3,488 — +0.09% WoW
KES/USD: 129.70 — -0.27% MoM
Turnover: KES 558M — 9,297 deals (22 May)
NSE Index Performance — 12-Week Trend
Source: Nairobi Securities Exchange daily market reports.
Top Gainers & Losers (22 May 2026)
TOP GAINERS
Safaricom PLC: +8.42%
Kakuzi: +6.18%
Nation Media Group: +5.32%
Olympia Capital: +4.73%
ScanGroup: +4.19%
TOP LOSERS
Sasini Tea & Coffee: -8.74%
Eaagads: -4.93%
NSE PLC: -4.36%
BK Group: -3.10%
Stanbic Holdings: -2.85%
KES/USD Exchange Rate — 12-Week Trend
Source: CBK indicative exchange rates. Mid-rate.
Analysis
The NSE had a positive week, lifted principally by Safaricom which added 8.42% on the back of strong M-Pesa transaction volume data and renewed foreign investor interest. The NASI closed at 206.21, up 0.3% for the week and carrying a 10.52% year-to-date gain. Equity Group led volumes with 4.71 million shares traded. On the losing side, agriculture names sold off — Sasini dropped 8.74% on a soft earnings outlook.
The shilling was broadly stable at 129.70 per dollar, supported by adequate CBK reserves and steady diaspora remittances, though the mild MoM weakening reflects elevated oil import bills earlier in May. Friday's Brent crash to ~USD 95 (from ~USD 110) on US-Iran peace deal news could ease FX pressure if sustained. A total of 14.19 million shares across 9,297 deals traded on Friday, with 21 gainers and 19 losers out of 57 participating equities.
The Week Ahead
Earnings season: NSE mid-year earnings kick off — Equity Group, KCB and Co-op Bank results expected in coming weeks.
FX watch: Monitor Brent crude and CBK reserves for KES/USD pressure signals.
Disclaimer
This content is produced by Serrari Group for information and educational purposes only. It is not investment, legal or tax advice and does not consider your individual circumstances. Figures are sourced as indicated and were accurate as at the stated date; markets move and past performance is not a guarantee of future results. Always do your own research and consider professional advice before investing.