The Nairobi Securities Exchange suffered its sharpest weekly decline since March during the week ending 11 September 2026, wiping out KSh 177.56 billion in market value.
Total market capitalisation closed at KSh 4.107 trillion, down 4.14% from the previous week. The sell-off erased a large portion of recent gains and was driven by broad corrections in large-cap stocks.
Market Performance Snapshot
| Metric | Week Ending 11 Sept 2026 |
|---|---|
| Market Capitalisation | KSh 4.107 trillion (−4.14%) |
| Value Wiped Out | KSh 177.56 billion |
| Equity Turnover | KSh 6.64 billion (−20.87%) |
| Foreign Net Outflows | KSh 124.18 million |
Banking stocks dominated liquidity, accounting for more than 70% of equity turnover. Foreign investors remained net sellers for a third consecutive week, though the pace of outflows slowed.
Large-Cap Losers
Heavyweights led the decline:
- Safaricom fell 6.50% to close at KSh 35.20.
- KenGen dropped 12.35% to KSh 11.00, one of the steepest declines among major counters.
- Kenya Power declined 6.45% to KSh 22.45.
- KCB Group closed at KSh 94.00 (−4.08%).
- Equity Group finished at KSh 102.00 (−3.77%).
- Diamond Trust Bank ended at KSh 185.25 (−3.76%).
Rising global oil prices, with Murban crude climbing sharply during the week, added to the pressure on investor sentiment.
Standout Gainers
While large-caps sold off, several mid- and small-cap stocks posted gains, largely driven by local retail interest.
Africa Mega Agricorp led the market with a 51.21% surge, closing at KSh 327.75.
Other gainers included:
- Williamson Tea (+4.96%)
- Flame Tree Group (+4.28%)
- TPS Serena (+4.16%)
- East African Portland Cement (+2.52%)
Biggest Decliners
Not all smaller stocks were spared. The week’s biggest losers included:
- Uchumi Supermarket (−15.17% to KSh 1.23)
- Standard Group (−14.40%)
- Unga Group (−11.53%)
- Longhorn Publishers (−10.70%)
Fixed Income Activity
As equities sold off, capital rotated into the bond market. Secondary bond turnover rose 51.27% to KSh 64.76 billion, pointing to a clear preference for safer instruments during the week.
Related:NSE Weekly: Nedbank’s $842M NCBA Deal Gets CBK Nod
Bottom Line
The week ending 11 September 2026 marked a sharp correction on the NSE, with large-cap stocks and foreign selling driving the market lower. Market capitalisation fell to KSh 4.107 trillion after losing KSh 177.56 billion.
While a handful of mid- and small-cap counters posted strong gains, the overall tone remained risk-off. Investors will be watching closely to see whether the sell-off continues or stabilises in the coming sessions.
Sources:
NSE Market Statistics Summary (as of 11 September 2026);
African Markets Weekly Brief – Week ending 11 September 2026;
Safaricom (SCOM) price data – afx.kwayisi.org;
KenGen (KEGN) price data – afx.kwayisi.org;
NSE share prices – African Financials (11 September 2026).
This article is for information only and is not investment advice.