NSE Slips as Foreign Investors Net Sell KSh 737M: NASI Falls 1.00% in the WeekNSE Slips as Foreign Investors Net Sell KSh 737M: NASI Falls 1.00% in the Week

The sell-off matters because foreign money had made up a large part of trading the week before. Standard Investment Bank's weekly market wrap, reported by Soko Directory, said foreign participation fell to 23.70% of activity from 40.10%, while turnover dropped 14.40% to about KSh 1.86B ($14.40M). The figures cover the week to about 9 October 2026, and the Nairobi Securities Exchange publishes the daily statistics behind them.

Indices fall, but the year is still strong

The NSE 20 Share Index closed at 4,315.49, down 0.20%, and the NSE 25 at 6,964.04, down 0.50%. The NSE 10 slipped 0.60% to 2,734.60. Mwenendo earlier reported on how the NSE All Share ended at 244.93 on the final trading day of the week.

Despite the dip, the market remains well ahead of where it began the year. The wrap put year-to-date gains at 31.30% for the All Share Index, 39.20% for the NSE 10, 37.50% for the NSE 20 and 36.60% for the NSE 25.

I&M Holdings led the gainers, rising 6.10% to KSh 87.50, a year-to-date gain of 106.10%. Nation Media Group rose 2.30% to KSh 15.40, and Standard Group gained 3.20% to KSh 6.40. Nairobi Business Ventures was the biggest decliner, down 7.30% to KSh 1.27, followed by Africa Mega Agricorp, down 5.90% to KSh 329.

Who sold and who bought

Foreign investors were net sellers of about KSh 737M, using the indicative rate of KSh 129.20 to the dollar quoted in the wrap. The largest net outflows came from the exchange's own shares, at about KSh 60.76M ($470,300), then KCB Group at KSh 26.03M ($201,500) and Kenya Power at KSh 11.47M ($88,800).

Safaricom drew the largest net inflow, at about KSh 175.71M ($1.36M), followed by Equity Group at KSh 93.54M ($724,000). That did not stop the share prices of the heavyweights sliding. Safaricom fell 2.20% to KSh 35.75, leaving its market capitalisation at about KSh 1.43T ($11.03B). Equity Group fell 1.40% to KSh 104, KCB fell 3.00% to KSh 89.75 and Kenya Power fell 2.20% to KSh 22.35.

For ordinary investors, the lesson is that a falling index can hide very different outcomes by stock. Banks and the utility lost ground while a handful of mid-cap names posted strong weekly gains, so a single index figure says little about an individual portfolio.

Fresh offers compete for investor cash

New share offers are also asking investors for money. Quick Mart PLC is selling 2 billion existing shares at KSh 7.50 each, aiming to raise KSh 15B ($116.10M) for the selling shareholder, with the offer open until 30 October. It needs at least 75.00% subscription to proceed. Mwenendo earlier reported on Quickmart listing plans in September.

The Dangote Petroleum Refinery offer covers 728,971,962 Kenya Global Depository Receipts at KSh 53.50 each, targeting about KSh 39B ($301.86M), and applications were scheduled to close on 13 October. In an earlier report by Mwenendo, readers were told of conflicting Dangote deadlines across markets, so applicants should rely on the approved Kenyan prospectus.

Business conditions and the central bank

The Stanbic purchasing managers' index rose to 51.30 in September from 49.70 in August, moving above the 50.00 mark that separates expansion from contraction, the wrap said. Output still contracted for a seventh consecutive month, though at the slowest pace in that period.

The Central Bank of Kenya held its benchmark rate at 8.75% and the next policy meeting is scheduled for December 2026. Fuel prices are also on the calendar, with the Energy and Petroleum Regulatory Authority review due on 14 October.