The NASI closed down 1.14% at 244.72 with the N20I off 0.59% and the Banking index down 0.72%, though breadth was positive at 25 advancers against 17 decliners across 55 traded counters. Turnover was thin at KES 403.9m, 35.7% below the 20-session average. Telecommunication led sectors at +3.68% on Safaricom (SCOM), which gained 3.68% to 35.20 and dominated value traded at Sh166.8m, while Construction and Allied and Banking also advanced. Losses were concentrated in Oil Chem (OCH), down 10.00%, and Sasini (SASN), down 4.30%. Foreign investors were net sellers of KES 61.1m, 31.8% of turnover, led by Sh66.5m of Safaricom sold against Sh5.6m bought in Equity Group (EQTY).

Safaricom's half-year net profit rose 35.9% to Sh58.2bn, with service revenue up 13.1% to Sh226.1bn and M-Pesa revenue crossing Sh100bn for the first time in a half-year period, helped by its Ethiopia business. The result supported the share price even as foreign investors used the move to sell down positions. Separately, a World Bank Kenya Economic Update estimated the SGR cost Kenya up to Sh116bn more than a comparable Tanzanian benchmark, and put annual corruption losses at 1.2-4.0% of GDP, both pointing to fiscal drag relevant to sovereign risk pricing.