The NASI closed at 244.72, down 1.14%, with the N20I off 0.59% and the banking index down 0.72%. Breadth was negative at 20 gainers against 27 decliners of 54 traded. Energy and Petroleum led sector losses at -2.49%, while Automobiles and Accessories, Manufacturing and Allied and Agricultural counters posted gains. Turnover was thin at KES 288.1mn, 53.9% below the 20-session average, with KPC, EQTY, KCB and SCOM the most active names. Foreign investors were net sellers at KES -17.5mn, 11.2% of turnover, offloading SCOM and KCB while buying KPLC and IMH. OCH and XPRS led losers, down 10.00% and 8.01% respectively.

KNBS data showed annual inflation rose to 7.3% in October from 6.8% in September, driven by food, fuel and transport costs, with diesel and petrol prices up sharply year-on-year, a backdrop that weighed on sentiment and feeds into the day's broad market decline. East African Portland Cement (PORT) reported profit after tax down 68.6% to Sh1.58bn for the year to June, as a swing to an operating loss and reduced fair value gains on investment properties offset a recovery in cement volumes. Absa (ABSA) opened a Dubai office to channel Gulf capital into African infrastructure, energy and agriculture deals, a regional expansion step for the banking group.