The NSE All-Share Index closed at 244.72, down 1.14%, with 39 of 55 counters traded lower against 11 gainers. Banking fell 1.99% and Telecommunication 2.35%, pulling the broader market down, while Investment Services and Investment edged higher. Turnover was KES 596.4 million, 1.1% above the 20-session average, on 13,712 trades. KCB and Safaricom (SCOM) dominated activity by value but both were sold down by foreign investors, who were net sellers at KES -200.7 million, 30.1% of turnover. Kenya Power (KPLC) and NSE saw foreign buying. Kenya Power (KPC, as listed) led gainers, up 7.87%, while Oriental Commercial Holdings (OCH) and Express Kenya (XPRS) fell more than 7% each.

On the policy side, Treasury plans to table a Bill next week exempting monthly earnings up to Sh32,333 from PAYE, removing personal relief while leaving existing tax bands unchanged. Separately, the Draft Budget Policy Statement 2027 shows recurrent spending topping Sh4 trillion for the first time, with the deficit widening to 5.9% of GDP as development spending is trimmed. Both signal continued fiscal pressure that bears on government borrowing and bond yields relevant to NSE-listed banks and the bonds index, which was roughly flat at 1,152.10.