The NSE barely moved in May. But underneath the surface, investors were making big bets.

The NSE barely moved in May, but underneath the surface, investors were making big bets. Banking stocks led the market, with Co-op Bank, DTB, and I&M posting strong gains as capital rotated out of several blue-chip counters. Meanwhile, Sasini’s much-anticipated KES 7.9 billion property deal collapsed, putting its recovery story into question. The biggest contrast came from the banks. Absa Kenya recorded its first profit decline since 2017, while HFCB posted its strongest first quarter ever, with profits jumping 45%. Same market. Same economy. Two very different outcomes. Which story do you believe? Watch the latest edition of The Market Signal with David Kariuki.