Investors at the Nairobi Securities Exchange added Sh360 billion to their paper wealth in the three months to September, as rising share prices pushed the market’s value above the Sh4 trillion mark for the first time.
The Capital Markets Authority’s (CMA) Quarterly Statistical Bulletin for July to September 2026 shows that market capitalisation rose 9.57 per cent to Sh4.12 trillion from Sh3.76 trillion in the previous quarter.
The rally extended gains recorded earlier in the year, with the value of listed companies increasing 48.02 per cent from Sh2.78 trillion in September last year.
The Nairobi All Share Index (Nasi), which tracks the performance of listed shares, gained 9.57 per cent to close September at 245.60 points, up from 224.15 points in June.
The NSE 20 Share Index, which tracks 20 major companies, advanced 14.95 per cent to 4,316.96 points from 3,755.44 points.
The two indices also recorded strong year-on-year gains, with Nasi rising 38.96 per cent and the NSE 20 Share Index climbing 45.22 per cent.
Trading activity also strengthened compared with a year earlier.
Equity turnover rose 57.32 per cent to Sh72.72 billion in the third quarter from Sh46.23 billion in the corresponding period of 2025.
The volume of shares traded increased 2.66 per cent to 1.87 billion.
However, turnover fell sharply from the unusually high Sh263.87 billion recorded in the second quarter, when Sh233.55 billion worth of shares changed hands in June alone.
The third-quarter figure represents a 72.44 per cent decline from the preceding quarter, while shares traded dropped 75.74 per cent to 1.87 billion from 7.70 billion.
The contrast points to a market that has maintained strong valuations even as trading normalised after June’s exceptional activity.
Safaricom remained the exchange’s largest listed company by market value, averaging Sh1.49 trillion during the quarter, followed by Equity Group at Sh359.13 billion and KCB Group at Sh290.55 billion.
The concentration of market value among major companies means their share-price movements continue to have a significant influence on the overall market.
The broader capital markets also recorded increased activity.
Turnover in government and corporate bonds rose 34.62 per cent quarter-on-quarter to Sh837.13 billion, while the derivatives market recorded a 24.09 per cent increase in turnover to Sh397 million.
The CMA attributed the strong overall performance to the resilience and competitiveness of Kenya’s capital markets.
It also highlighted the approval of the Wallstreet Africa Banking Index Exchange Traded Fund, Kenya’s first locally domiciled and locally sponsored ETF, which provides investors with exposure to 11 listed banks through a single investment instrument.
The milestone comes as the exchange seeks to deepen investor participation and broaden the range of products available to local and foreign investors.
