At the close of trading yesterday, the NSE 20-share index stood at 3,628.64 points, up 29.31 points and 0.814% from 3,559.33 points on Friday 11 May 2012. The NSE All-share index also rose, up 0.52% from 78.46 on Friday to 78.98 points yesterday. The increase in the indices continued the upward trend of the NSE we saw last week.

In today’s trading the counters to watch are:

NIC Bank: The NIC Bank share was the biggest gainer in yesterday's trading, up  a healthy 4.76% from the previous day's price to close at KES 33. The bank is in the process of launching a rights issue to be held in a few months' time.

Mumias SugarCompany: The sugar producer's share remains especially active on the Nairobi Securities Exchange with the counter trading 1.101m shares yesterday and the share price easing 5 cents (0.9%) to close at KES 5.50. The share remains one to watch and as we have said in the past, possesses a lot of potential for returns as it is grossly undervalued.

KCB: The counter of East Africa's largest bank by profits and asset base yesterday had 2.477 million shares traded in 135 bids. The share price rose 50 cents (2.11%) to close at KES 24.25. The share has been quite active and we anticipate it will close the week on a high with the bank's re-development of its mobile money solution to be launched soon, a positive sign.

Safaricom Limited: The share of East Africa's biggest telco yesterday rose 5 cents (1.47%) to close at KES 3.45. The counter had 1.325m shares on the move, characteristic of its high trading and the share has remained rather sticky between KES 3.30 and KES 4.00. The share price however is expected to increase slightly following the announcement of full-year results in which, despite tough macroeconomic conditions, the company managed to report KES 12.63 billion in net profits.

KenolKobil: Aside from the firm's recent announcement of a possible sale of majority shares to Puma Energy, the Energy Regulatory Commission mandated to oversee and regulate fuel prices in the country has announced upward changes in the price of super petrol and diesel. The fuel increase in likely to have a positive effect on the company's revenues and the share price as such.