The Nairobi Securities Exchange marked a structural milestone on Friday, March 13, 2026, with the official launch of its Banking Sector Index, coinciding with the simultaneous release of third-quarter results from five major credit institutions. The NASI index closed at 211.31 points (+0.12%), posting a modest gain as Carbacid Investments surged 4.8% to 30.7 KES following the publication of its audited full-year results, according to closing data.
Key Figures
• NASI: 211.31 points (+0.12%)
• USD/KES: 129.2 (+0.78%)
• Brent Crude: $102.89/bbl (+4.0% weekly)
• Carbacid (CARB): +4.8% at 30.7 KES
• Market breadth: 31 advancers / 15 decliners / 19 unchanged
• Banking Sector Index: Official launch March 13, 2026
The session was marked by positive market breadth, with 31 stocks advancing against 15 decliners and 19 unchanged out of 65 active securities. The macroeconomic backdrop remained tense: the Kenyan shilling shed 0.78% against the US dollar to settle at 129.2 KES/USD, penalized by the oil surge that saw Brent reach $102.89 per barrel (+4.0% week-on-week), reports Reuters. This currency depreciation comes as geopolitical tensions around Iran roil commodity markets, with gold plunging 1.3% to $5,048.3 per ounce according to global data.
Banking Earnings Deluge and New Sector Index
Five major financial institutions unveiled their unaudited third-quarter 2025 results for the period ended September 30 on Friday: ABSA Bank Kenya Plc, NCBA Group Plc, Co-operative Bank of Kenya Ltd, Diamond Trust Bank Kenya Limited, and I&M Group PLC, according to official filings with the NSE. These releases coincided with the exchange's announcement of a dedicated banking sector index, aimed at providing investors with a precise benchmark to evaluate the performance of Kenyan credit institutions.
The USD/KES exchange rate at 129.2 represents a critical factor for analyzing these quarterly results, as local banks derive a significant portion of their revenues from foreign exchange activities and external trade financing. Kenya, a net energy importer, faces particular pressure from oil prices at $102.89 per barrel, fueling imported inflation and foreign currency demand. ABSA has simultaneously convened its 67th annual general meeting, NCBA its 69th, and Co-operative Bank its 68th, creating a dense calendar of shareholder meetings for April.