NSE (Nairobi Securities Exchange) closed in the red last week with the key NASI, N10, NSE 20 and NSE 25 Share Indices declining by 2.5%, 3.3%, 4.1% and 3.4% respectively. This is compared to a slide of 4.1%, 4%, 3.6% and 3.5% respectively the preceding week.

NSE Market Activity expanded to US$ 72.3 million, with EABL dominating the market and accounting for 28.3% of the week’s turnover. The counter’s price fell by 1.2% week-on-week to KSh 287.00.

Likewise, KCB and Equity Group declined by 7.4% and 3.4% respectively to KSh 87.00 and KSh 98.00 respectively.

However, I&M and Safaricom survived the downward spiral in market prices, rising by 1.3% and 0.3% respectively to close the week at KSh 80.25 and KSh 35.50, respectively.

According to a NSE weekly summary report by Standard Investment Bank(SIB), Kakuzi share prices rose 2.9% during the week to close at KSh 437.50, ending up as the NSE top price gainer for the week.

Britam fell 16.3% to KSh 17.50 at the end of last week, emerging as the weekly top loser at the Nairobi bourse.

Foreign investors sold shares worth US$ 19 million, with their activity shrinking at the bourse to 23.7% from 29% in the prior week.

As the week opens, BOC is expected to see increased activity as it does an interim dividend book closure for KSh 4.00 dividend on 21st September 2026.

Top movers at the NSE during last week were led by EABL, followed by Safaricom, KCB Group, Equity and I&M holdings as investors scrambled to accumulate more shares are lower prices.

Foreign investors bought heavily on the NSE, Co-op Bank, BK Group, Carbacid and Centum, while selling activity was witnessed on EABL, KCB, Safaricom, Equity and Stanbic counters.

In the primary market, CBK released auction results for two re-opened bonds, the 20-year and 30year instruments, with coupon rates of 12.9% and 12.5%.

Investor demand was strong, pushing total bids to KSh 81 billion against an initial offer of KSh 60 billion. This resulted in a 136% oversubscription rate. The CBK accepted bids worth KSh 50 billion, an acceptance rate of 60%.

Meanwhile, Murban crude oil prices rose to US$ 95.41 per barrel on September 10th from US$ 86.01 per barrel on September 3rd 2026. This follows increased concerns about oil supply risks due to renewed disruptions in the Middle East during the week.

The third week of September 2026 was defined by synchronised monetary tightening from central banks and volatile, supply constrained commodity markets. In a landmark 48-hour window, both the US Federal Reserve and the Bank of Japan delivered 25 basis points rate hikes to counter persistent inflation and rising input costs associated with the ongoing Middle Eastern energy disruptions.

In Kenya, all eyes are on the CBK which will make its decision on the CBR at its next October meeting.

“There is no need for CBK to adjust the base rate in reaction to the Fed action. But then again, we’ll have to await their decision,” said CFA Dedan Maina.