Co-operative Bank Group is enjoying one of its strongest runs at the Nairobi Securities Exchange in nearly a decade. Its stock closed at Ksh 20.30 on Friday, just shy of the record Ksh 20.50 it last touched in 2016.

That rise means the bank’s shares have gained close to Ksh 4 since January, putting a smile on the faces of its investors.

The rally has pushed Co-op Bank into the league of heavyweights at the bourse. With a market value of about ksh 119 billion, it now ranks as the sixth largest listed company. Over the week, the stock jumped 5.7 per cent from Ksh 19.20, further boosting its reputation as one of the most consistent performers on the market.

According to analysts at African X Changes, “Shareholders can be optimistic, knowing that the stock has accrued 20 per cent over the past four-week period.”

Trading numbers also underline its growing momentum. In the past three months, more than 66 million shares have changed hands across over ten thousand deals.

That translates into Ksh 1.18 billion worth of activity and an average of more than a million shares traded every session.

Even with this strong performance, Co-op Bank is not the only story at the NSE. Home Afrika has been the most eye-catching counter in 2025, with its price up an astonishing 265 per cent in the past year.

On Friday, the stock climbed nearly 9 per cent to end the day at Ksh 1.35. Other companies that have made investors wealthy include the NSE itself, up 162 per cent, Kenya Re at 148 per cent, CIC at 147 per cent, HF Group at 144 per cent and Jubilee Insurance, which has risen by almost 76 per cent.

The wider market has also been in good health. The NASI gained 3.5 per cent during the week, while the NSE 25 advanced 2.56 per cent and the NSE 20 jumped 4.71 per cent. Market capitalisation grew by more than 3 per cent. Activity on the floor was equally lively, with volumes traded more than doubling and equity turnover leaping by over 200 per cent.

While stocks have been on the rise, government securities are still attracting strong demand. The Treasury Bill auction of September 4 was oversubscribed, pulling in Ksh 33.9 billion against the Ksh 24 billion on offer.

“Interest rate on the 91-day and 182-day Treasury bills declined while interest rate on the 364-day Treasury Bill had a marginal increase,” the Central Bank of Kenya noted in its weekly report.

Bond trading in the secondary market, however, eased, with turnover dipping by almost a quarter to Ksh 50.2 billion. On the global front, Kenya’s Eurobonds continued to strengthen, as yields fell by more than 23 basis points on average.