The Nairobi Securities Exchange closed the week of 5 to 9 October 2026 on a mixed, slightly softer note. Major indices ended Friday lower, while selected mid- and small-caps still found buyers.
Key takeaway: NASI closed Friday at 244.93 and market capitalisation at about KSh 4.11 trillion. Safaricom still led activity. Separately, Renaissance Capital cut the Dangote Kenya GDR minimum to 10 receipts (about KSh 535) ahead of the 13 October close.
Kingdom Securities’ daily wrap for 9 October put market capitalisation at about KSh 4.11 trillion (KSh 4,110.46 billion), down 0.17% on the day with the broader board. That sits close to the NSE’s September month-end barometer of about KSh 4.12 trillion after a weaker September.
Index Levels at Friday’s Close (9 October 2026)
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| Index | Close, 9 Oct | Day change |
|---|---|---|
| NASI (All Share) | 244.93 | -0.17% |
| NSE 10 | 2,734.60 | -0.09% |
| NSE 20 | 4,315.49 | -0.18% |
| NSE 25 | 6,964.04 | -0.05% |
| Banking Sector Index | 288.27 | -0.15% |
Sources for the table: Kingdom Securities daily market wrap, 9 October 2026; NASI also matches end-of-day prints on myStocks and Bloomberg. Business Today’s week-end wrap described the week as mixed, with the NASI and NSE 20 softer overall.
Banks: Softer Closes on Friday
Large lenders were not the loudest story of the week, but Friday’s board still showed modest pressure on several bank counters.
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| Bank / counter | Close, 9 Oct | Notes |
|---|---|---|
| Equity Group | KSh 104.00 | Among top turnover names; softer on the day |
| KCB Group | KSh 89.75 | High activity; price eased on Friday |
| Co-operative Bank | About KSh 36.95 | Soft session close (board prints) |
| Standard Chartered Kenya | About KSh 318.25 | Lower on the day (board prints) |
| I&M Group | KSh 87.50 | +2.64% on Friday; led turnover in some wraps |
Earlier mid-week bank prices were higher in places (for example Equity near KSh 105 earlier in the week). Use the 9 October closes above for the week-end snapshot. Approximate market-capitalisation rankings still place Equity and KCB among the largest listed banks after Safaricom.
Friday’s Fallers and Gainers
According to Business Today’s wrap of Standard Investment Bank’s market report:
- Nation Media Group led the losers, down about 4.3% to KSh 15.40
- BK Group fell about 3.6% to KSh 59.75
- Eaagads also fell about 3.6% to KSh 28.10
- Home Afrika and Sameer Africa were among other decliners on the day
On the upside:
- BOC Kenya rose about 5.1% to KSh 191.00
- Longhorn, Crown Paints, I&M and TotalEnergies Marketing Kenya were among the day’s better performers
Weekly small-cap rankings can vary by broker table. Treat the day-session leaders above as the best-confirmed Friday list; full-week ranking lists should be checked against your broker’s week-end sheet before you trade on them.
Safaricom Still Dominates Activity
Safaricom remained a core liquidity name. On Friday it closed at KSh 35.75 on about 1.49 million shares, with turnover near KSh 53 million in Kingdom’s wrap. I&M followed as a major mover by value, with more than one million shares changing hands as the price advanced to KSh 87.50.
KCB and Equity also featured high on the active list even as their prices eased. Foreign investors were net sellers on Friday, with net outflows of about KSh 132 million in the same wrap.
Dangote Kenya GDR: Entry Cut to KSh 535
The week’s main capital-markets story sat just outside the listed board.
On 5 October, the Capital Markets Authority approved a Short Form Prospectus for Global Depository Receipts sponsored by Renaissance Capital (Kenya), so eligible Kenyan investors can take exposure to Nigeria’s Dangote Petroleum Refinery & Petrochemicals (DPRP) IPO through GDRs rather than buying Nigerian shares directly.
- Nigerian IPO window: opened 14 September 2026, closes 13 October 2026
- Kenya GDR offer: opened 6 October, closes 5 p.m. on 13 October 2026
- GDR price: KSh 53.50 per receipt
- Minimum subscription (after 9 October cut): 10 GDRs (KSh 535), down from 2,000 GDRs (about KSh 107,000)
- NSE listing of the GDRs: planned after allocation, subject to Nigerian SEC approval or no-objection and a successful raise
CMA has stressed that this is the Nigerian refinery IPO only. It is separate from the Dangote East Africa project in Lamu.
Applications run through the GDR process (including portal and USSD channels publicised by the issuer). Full payment is required on application. Listing and secondary trading on the NSE are not automatic on day one of the offer.
Read also:NSE Weekly: Market Cap Rebounds to KSh4.17 Trillion
Bottom Line
Friday 9 October left the bourse a touch softer: NASI 244.93, banking index 288.27, market capitalisation about KSh 4.11 trillion. Safaricom, I&M, KCB and Equity still drove much of the cash, while Nation Media led the day’s fallers and BOC led the gainers.
Outside the board, the Dangote Kenya GDR minimum falling to KSh 535 materially widens retail access before the 13 October deadline, with any NSE listing still conditional on Nigerian regulatory clearances and a successful allocation.
Sources: Kingdom Securities – Daily Market Wrap, 9 October 2026; myStocks – NASI end of day 9 October 2026; Business Today – NSE closes the week on a mixed note; The Star – NSE September barometer (market cap context); CMA – Dangote GDR approval, 5 October 2026; The Kenya Times – GDR minimum cut to KSh 535; Business Today – Dangote minimum cut. Prices and index levels are end-of-day figures as reported; confirm live board data before trading.