The NASI fell 1.14% to 244.72 on 12 October, with the N20I and N25I both down and breadth negative at 24 gainers against 26 decliners of 56 counters traded. Turnover was KES 872.99m, 4.2% below the 20-session average, and foreign investors were net sellers at KES -83.25m, 5.4% of turnover, led by selling in Diamond Trust Bank (DTK) and British American Tobacco (BAT). Commercial and Services led sector gains at +6.18%, while Agricultural and Insurance lagged, down 1.40% and 1.14% respectively. Kenya Airways (KQ) topped gainers at +7.64% and was also among the most actively traded counters by value.

On the policy side, Kenya's tax revenue rose 14.85% to Sh258.31bn in September, with customs collections up 5.8% to Sh90.05bn, 101.1% of the Treasury target, pointing to continued reliance on domestic and external borrowing to fund the 2026/27 budget. Parliament shortened the publication window for the Tax Laws (Amendment) Bill, 2026, to 10 days to speed its passage. Separately, Renaissance Capital cut the minimum subscription for the Dangote Petroleum Refinery IPO to Sh535 ahead of its 13 October deadline, widening access for Kenyan investors to the Nigerian listing.