Nairobi Stock Market: 3-Year High Amid Protests
Against the backdrop of nationwide protests, the Kenya stock market surged to a three-year high, a bold move for the Nairobi Securities Exchange (NSE). Despite rising political tensions, the NSE All-Share Index (NASI) climbed, fueled by investor confidence and solid performances from blue-chip stocks, leading to a year-to-date growth exceeding 20%. However, observe how foreign outflows tempered this positive run. Trading slowed, while key players like KenGen and NCBA Group saw significant gains. News Directory 3 keeps a keen eye on these developments. Will upcoming fiscal policies and the July bond auction sway the market further,or will the ongoing political unrest overshadow these successes? Discover what’s next for the resilient Kenyan financial scene.
Nairobi exchange Defies Protests with Gains
Updated June 28, 2025
The Nairobi securities Exchange (NSE) showed surprising resilience Tuesday, posting gains despite ongoing protests and political tension. Investor optimism and the performance of large-cap stocks propelled the market to levels unseen in three years.
The NSE All-Share Index (NASI) rose by 0.68%, closing at 148.50 points.This increase pushed the year-to-date growth above 20%. The rally occurred as Kenyans protested,marking the anniversary of anti-tax demonstrations that previously destabilized the economy.
Market capitalization increased by KSh 16.3 billion, settling at KSh 2.34 trillion, a daily gain of 0.7%.Year-to-date, this represents a 20.26% increase, positioning the NSE as a top performer in Africa for 2025. Blue-chip indices, NSE 10 and NSE 25, reached 52-week highs. The NSE 10 climbed 0.55% to 1,469.98 points, while the NSE 25 rose 0.63% to 3,818.82 points. The NSE 20 also gained, closing at 2,318.17 points,up 1.05%.
Trading activity slowed despite the gains. Turnover decreased by 26.1% to KSh 232.7 million, suggesting investor caution amid protests and fiscal reform uncertainty. Market breadth remained positive, with 28 stocks advancing against nine declining, indicating sustained momentum in the Kenya stock market.
However, foreign outflows tempered the positive trend. After showing interest the previous day, overseas investors pulled back, with net outflows reaching KSh 35.53 million. Foreign buys dropped 58% to KSh 50.55 million, while sales increased 33.1% to ksh 86.08 million, reflecting a risk-off approach due to Kenya’s political climate and currency volatility.
KenGen plc ($KEGN) was among the top performers, hitting an intraday high of KSh 6.00, a level last seen in August 2020. Kenya Power and Lighting Company ($KPLC) climbed 3.31% to KSh 9.36, its highest price as December 2017. NCBA Group plc ($NCBA) reached a 10-year high of KSh 58.50, signaling confidence in the banking sector.
In corporate actions, BAT Kenya ($BAT) issued a final dividend of KSh 45.00 per share for FY2024, bringing the total payout for the year to KSh 50.00, pending AGM approval. BK Group ($BKG) also issued a dividend of Frw 18.92 per share, completing its FY2024 payout at Frw 29.34.
Investors are monitoring financial results from Williamson Tea Kenya Plc ($WTK) and Kapchorua Tea Kenya Plc ($KAPC).Both tea producers issued profit warnings in May 2025, citing falling global tea prices and the strengthening Kenyan shilling, which impacts export earnings.
Analysts suggest the NSE’s performance reflects underlying confidence in Kenya’s economic reforms, particularly in debt management and revenue collection. Though, they caution that political unrest and foreign outflows could negatively effect short-term sentiment if demonstrations persist.
What’s next
Attention will focus on upcoming fiscal policy announcements and the scheduled July bond auction, which could influence equity and fixed-income market flows. Stable inflation and positive corporate earnings suggest local investors are adopting a long-term perspective, anticipating economic stability and structural reforms to bolster growth in the Kenya stock market.