The NASI closed at 244.72, down 1.14%, with the NSE 20-Share off 0.59% and the Banking index down 0.72%. Breadth was negative at 21 gainers against 28 decliners of 54 counters traded. Turnover reached KES 1.41bn, up 151.5% on the 20-session average, driven largely by NSE Limited (NSE) shares, which gained 9.52% to 34.50 and accounted for KES 907m of the day's value. Foreign investors were net sellers at KES -56.7m, 74.4% of turnover, offloading Safaricom (SCOM) and Equity Group (EQTY) while buying NSE and KenGen (KPLC). Banking led the sector sell-off with eight of 11 counters down; Construction and Allied and Investment also lagged.

Two developments bear on positioning. The Competition Authority cleared Jayesh Saini's takeover of ABC Bank, though the deal still needs CBK sign-off, adding to the banking sector's consolidation narrative even as the sector index fell on the day. Separately, Quickmart PLC's Sh15bn IPO has drawn Sh7.12bn in institutional commitments, 47.5% of the offer, from MOBILIST, RWC Asset Management, 337 Frontier Capital and a conditional IFC application, following CMA approval of a supplementary memorandum on October 23.