NSE 25 rises 1.37% as Absa and NCBA drive Nairobi narrative
The NSE 25 rose 1.37% to 5,685.48 on May 7, while the NSE 20 added 0.40% to 3,525.55. Absa Bank Kenya shaped the sector story with a Ksh100 billion commitment to MSMEs under a new financing model, according to Financial Fortune Media, after joining the MSCI index on May 1, according to FXLeaders. NCBA Group stayed in focus with a KSh150 billion valuation on May 1 amid acquisition talks, FXLeaders reported, while TradingView highlighted its net revenue after provisions on May 4. BAT Kenya also drew attention after a leadership change following a record dividend payout, according to FXLeaders, as the market absorbed at least 10 issuer filings and regulatory notices dated May 7.
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