The 20-share index took a beating yesterday as it closed at 4124.53 points. The All-share maintained improved performance and closed at 91.44 points. We shall focus on Equity Bank and Kenya Airways. Both listed companies are to make an announcement on their results thus far and it could lead to significant changes in the stocks' valuation.

• Kenya Airways - The company is announcing their half year results today. Thus far it has reported a Profit-After-Tax loss of KES 4.8 Billion. These results come in the same year the airline held a right issue and lay off many workers, both of which were aimed at increasing available money. Such an announcement may cause shareholders to react to decrease the stock's market valuation since the loss boils down to low returns, if any. The counter closed at KES 12.45 yesterday with volumes of over 95,000 traded. We shall look out for the price change for the day.
• Equity Bank - The financial institution has announced an increase in Profit-Before-tax of KES 11.79 Billion and a Profit-After-Tax of KES 8.3 Billion. The Earnings Per Share stands at KES 2.99 an increase by 13.7%. Unlike Kenya Airways, the counter may see increased transactions in light of the good news and trade well over yesterdays 1.3 million shares. The price may also edge up from KES 24.25, the close as of end of business yesterday. We shall keep an eye on both volumes and price.