Performance in the Nairobi Securities Exchange was wanting today, with both major indices showing decreased performance. The 20-Share Index closed at 4152.11, down 7.62 points from Friday. The All-share index followed suite closing at 92.913, down 0.03 points from Friday. This is the second time in a fortnight that both indices have shown decreased performance on the same day. Market capitalization as a result went down to KES 1.238 Trillion, a drop by 0.44 Billion. Not the best start to the week for foreign investors.

HIGHEST VOLUMES

Safaricom was the highest performer with an astonishing 21.65 million shares changing hands. Effects of the release of the unaudited results are still as vigor since the stock closed at KES 4.80, same as last week Friday. Kengen took second place with 965,700 shares trading over the counter. Right behind the power supplier was its partner, Kenya Power which saw 715,800 shares traded at KES 18.40, 10 cents higher than Friday’s close. Kenya Commercial Bank maintained its stamp on the top performers having come in fourth place with 649,200 shares changing ownership.

COUNTER WATCH

• British American Tobacco – The stock shied away from attaining a higher closing price and settled at an average of KES 465.  The volume traded was exactly 6,500 shares, up from the 300 traded last Friday. This movement is materially sharp as the share has been on an upward rally with stumbling blocks of a few shillings, but rarely a KES 5 drop. The parent company B.A.T plc is currently battling policies I Russia that could see cigarette sales drastically decrease and reduce potential revenue. There’s still hope that the stock will hit the KES 500 mark yet.
• Britam – The effect of the massive rebranding campaign seems to wading off, with the stock maintaining a close of KES 6.25 and trading just over 74,000 shares. The performance is still good considering the low of KES 3.80 in February this year. The investment company is looking to set its footprints outside Kenya with a branch already set up in Uganda and one coming up in South Sudan, a budding nation that will form rich grounds for insurance. Profits in the latter could be achieved earlier since they are working in tandem with Bank of South Sudan to get through the procedural requirements. Success in this market will yield great returns for the parent company in Kenya and an eventual greater dividend pay.