At the close of share trading at the NSE yesterday, the Diamond Trust Bank share closed at KES 100 which was 2.9% below its previous close of KES 103 last week. The bank’s share has shown fluctuated performance this year, hitting a high of KES 104 mid this month. DTB announced that it would conduct a rights issue of 24.5 million shares hoping to raise Ksh 1.8 billion to facilitate a strategic expansion strategy in Kenya’s competitive banking sector. In a ranking of Kenya’s banks last year, the bank was ranked 9^th with assets of Ksh 74.6 and a post- tax profit of Ksh 2.2 billion. We will continue to observe the bank’s counter as the rights issue approaches.

Kenya Airways  closed 1.95% down yesterday at KES 12.60 compared to last week's KES 12.85. The airline’s share has declined 4.5% since Thursday last week when the 1.03 additional shares were listed on the NSE which strongly suggests that the additional shares may have impacted the stock price negatively.

Another share on our watch today is KenolKobil, which yesterday climbed to close at KES 15.50 up 9.12% from Friday’s close at KES 14.25. Since the petroleum marketer’s share trading suspension was lifted on Wednesday last week, the share price has risen a remarkable  19% despite a profit warning announcement that this year’s profits would be lower than anticipated. However, this price spike could be attributed to the momentum from the sudden resumption of share trading after the suspension was lifted.