Kenya’s equities market closed the week on a bearish note with the Nairobi All Share Index falling 1.0 per cent week-on-week to 244.93 points, according to Standard Investment Bank’s weekly market wrap dated October 12, 2026.

The NSE 10 Share Index declined 0.6 per cent to 2,734.60 points, the NSE 20 Share Index shed 0.2 per cent to 4,315.49 points and the NSE 25 Share Index dropped 0.5 per cent to 6,964.04 points.

Despite strong year-to-date gains – the NASI up 31.3 per cent, the NSE 10 up 39.2 per cent, the NSE 20 up 37.5 per cent and the NSE 25 up 36.6 per cent – market turnover fell 14.4 per cent week-on-week to about $14.4 million, indicating reduced trading activity.

Foreign investors were net sellers, recording outflows of $5.7 million, equivalent to approximately KSh737 million at an indicative rate of KSh129.2 to the dollar, reducing their participation in total market activity to 23.7 per cent from 40.1 per cent the previous week.

Safaricom attracted the largest foreign net inflow of about $1.36 million but its shares fell 2.2 per cent to KSh35.75; Equity Group received $724,000 in foreign inflows while its shares declined 1.4 per cent to KSh104.

The Nairobi Securities Exchange itself recorded the largest foreign net outflow at roughly $470,300, with KCB Group, Kenya Power, Stanbic Holdings and BK Group also posting net outflows.

Nation Media Group was the most actively traded stock, accounting for 18.1 per cent of total turnover and gaining 2.3 per cent to close at KSh15.40, extending its year-to-date rise to 33.3 per cent.

I&M Holdings emerged as the week’s top performer among tracked stocks, rising 6.1 per cent to KSh87.50 and more than doubling its value since the start of the year with a 106.1 per cent year-to-date gain.

Other gainers included Standard Group, up 3.2 per cent to KSh6.40, Sanlam Kenya, up 2.4 per cent to KSh10.65, Flame Tree Group, up 1.9 per cent to KSh2.11 and Car & General, which posted a 449.5 per cent year-to-date increase despite a 3.3 per cent weekly decline.

On the losing side, Nairobi Business Ventures fell 7.3 per cent to KSh1.27, Africa Mega Agricorp dropped 5.9 per cent to KSh329 and Olympia Capital Holdings declined 4.7 per cent to KSh7.34.

The week also saw Quick Mart PLC launch an IPO of two billion existing ordinary shares at KSh7.50 each, targeting KSh15 billion, with the International Finance Corporation committing up to $15 million (approximately KSh1.94 billion) for about 13 per cent of the offer.

Additionally, Dangote Petroleum Refinery announced a GDR offering of 728,971,962 units at KSh53.50 each, targeting roughly KSh39 billion, with a minimum subscription threshold of KSh50 million and applications closing on October 13, 2026.

The Central Bank of Kenya kept its benchmark rate at 8.75 per cent, while the Stanbic Purchasing Managers’ Index rose to 51.3 in September, signalling modest improvement in private-sector demand despite persistent cost pressures.