The Nairobi Securities Exchange (NSE) has taken a significant hit due to the deadly protests that rocked Kenya earlier this year. According to the Q3 Statistical Bulletin published by the Capital Markets Authority, investors at the NSE suffered a Sh34 billion loss in paper wealth between June and September.

The market capitalization of the NSE fell by 2.01% to Sh1.67 trillion from Sh1.71 trillion, with the NSE All Share Index declining by 2.20% to 107.08 points. The quantity of shares purchased also fell by 0.65% to 1.092 billion. The Kenya Institute for Public Policy Research and Analysis attributed the loss to a 2.97% reduction in the total value of shares traded during the period, citing political tensions and uncertainties among investors.

Despite the decline, other NSE indicators showed improvement, with equities turnover rising by 48.9% to Sh28.39 billion and the NSE 20 Share Index increasing by 7.19% to 1,775.67 points. The shilling also performed well, with investors' paper wealth rising by Sh183 billion year over year. The impact of the protests is still being felt, with Kenya facing a substantial budget deficit of 767 billion shillings ($5.95 billion) for the fiscal year ending June 2025.