The NSE 20-share closed last week at 3,554.46 points, 20.19 points (+0.57%) up from Thursday’s trading. The NSE all-share index closed at 76.72 points, up 0.58 points (0.76%). The two indices witnessed upward pressure over the week caused by increased trading (the Safaricom counter was very active in the week) and strong upward share price movements by some shares such as Mumias Sugar.
The shares to watch this week include:
- Kenya Airways: the share continues to be of interest as the company has an ongoing rights issue.
- Standard Chartered Bank: The bank announced that it is planning to have a rights issue to increase its authorised share capital (read more on that story here). Such an announcement will have a bearing on the share, with an increase in the share price.
- Kenya Commercial Bank, Barclays Bank, Equity Bank, Cooperative Bank: The shares of the major banks are going to be of particular interest with the parliamentary debate on the Finance Bill 2011 and the banking Amendment Bill 2011 that seeks to cap the interest rates that commercial banks can charge customers on loans.