Two numbers defined trading in Nairobi on Monday, May 4, 2026: WPP Scangroup Plc released its audited 2025 earnings, while the NSE 20 fell 1.68% to 3,503.52. In a session where 31 stocks declined, against 13 gainers and 12 unchanged, the market punished names exposed to margin pressure and weak demand visibility, yet still made room for pockets of resilience, including Scangroup, whose shares rose 2.2% to 2.34 KES.
Market context: broad weakness, but selective buying remained
The NSE 25 lost 1.08% to 5,606.54, extending a cautious tone across the Kenya stock market at the start of the week. Market breadth was clearly negative, with 31 decliners out of 56 listed counters, which matters because it points to broad-based risk reduction rather than one-off profit-taking. The backdrop was not purely domestic. The USD/KES stood at 129.18, up 0.10%, while Brent crude climbed to $111.46 a barrel, a 3.0% daily gain, even though it remained down 5.6% on the week.
That global mix matters for Nairobi. Kenya is a net fuel importer, so oil above $110 feeds directly into transport, logistics and distribution costs. That helps explain why Total Kenya rallied 6.7% to 48.0 KES, while Kenya Airways dropped 7.5% to 6.4 KES. The market is distinguishing between businesses that can pass through higher fuel-linked costs and those whose operating margins are hit almost immediately.