The NASI fell 1.14% to 244.72 in a broad-based decline, with 43 counters down against 9 up. Turnover was KES 1.41bn, 5.2% above the 8-session average, but foreign investors were net sellers at KES -333.0m, 15.9% of turnover. Banking was the worst-performing sector, down 5.03% with all 12 constituents lower; KCB fell 6.39% to 84.25 and COOP dropped 7.32% to 33.55, while EGAD lost 7.78%. Telecommunication and Automobiles and Accessories also fell sharply, down 3.84% and 4.57% respectively. Only Investment closed higher among the 12 sectors. KCB and Safaricom (SCOM) led value traded, at KES 410.9m and KES 378.4m respectively, with foreign investors selling both counters.

The High Court's nullification of the Government's 15% Safaricom stake sale to Vodacom is now headed for appeal, with both Vodacom and Treasury CS John Mbadi confirming they will challenge the ruling at the Court of Appeal. The uncertainty coincides with heavy foreign selling of Safaricom (SCOM), KES -162.5m on the day. Separately, Standard Chartered Bank Kenya (SCBK) has launched a CMA-approved wealth platform for high-net-worth clients, the Signature Select VCC, which has already attracted over $20 million in assets under management across strategies run by T. Rowe Price, BlackRock, Allianz Global Investors and PIMCO.