Investors couldn’t seem to get enough of major company stocks at the Nairobi Securities Exchange (NSE) last week, pushing total equities traded to Sh155.08 million.

That’s a 60.26 per cent increase from the Sh96.77 million recorded the previous week. It seems the rally fever—fuelled by the World Rally Championship (WRC) drawing crowds from all over the globe—also made its way to the trading floor.

By the time trading wrapped up on Monday, March 24, the NSE All Share Index (NASI) had gained 0.31 points, settling at 130.22, while NSE 20 recorded a loss of 7.93, dropping to 2,245.04. The NSE 25 saw a marginal contraction of 2.47, landing at 3,535.87, while the NSE 10 slightly fell to 1,335.94.

The big players driving the market included Liberty Insurance, KCB, Equity Bank, Safaricom, and Standard Chartered Bank. Together, they dominated trading activity, accounting for a massive 85.38 per cent of the total market turnover—an increase from the 84.22 per cent recorded the week before.

According to the NSE’s weekly report, these top five companies alone pulled in Sh1.9 billion in market turnover. Their strong performance helped bolster investor confidence, even as some indices faced minor contractions.

The total value of all shares traded on the stock exchange last week contracted by Sh71.09 million, bringing it down to Sh255.6 million. However, the number of equity deals soared, reaching 1,645—an impressive jump of 93 deals from the previous week.

The bond market was also on fire, with bond turnover soaring by 33.42 per cent to hit Sh76.1 billion, up from Sh57.04 billion the previous week. Equity turnover, on the other hand, saw a modest increase of 14.04 per cent, climbing to Sh2.2 billion from Sh2.01 billion.

All share index

This comes as the NSE 20-Share Index ended the week at 2,245.04 points, marking a slight increase of 0.37 per cent from the previous week’s 2,236.72 points. Similarly, the All Share Index inched up by 0.52 per cent to close at 130.22 points, compared to 129.54 points the week before.

The NSE 25 Share Index wasn’t far behind, climbing 0.15 per cent to 3,534.87 points, up from 3,529.45 points. Meanwhile, the NSE 10 Share Index edged up 0.10 per cent, settling at 1,335.94 points, up from 1,334.54 points.

Despite the mostly positive trends, foreign investors had mixed reactions to the market. There was a net foreign equity inflow of Sh534.27 million, signaling continued interest in Kenyan stocks. However, the week also saw a net outflow of Sh153.45 million, a sharp increase from the Sh79.94 million net outflow recorded the previous week.

With increased trading activity and key stocks showing resilience, all eyes are on the next trading sessions to see if this rally will hold or if investors will cash out their gains.