This last quarter of the year has seen a good run on the NSE, specifically on the 20-share index. Its performance has seen to the maintenance of a gap of at least 100 over the 4000 points. The All-share index has kept up with points averaging 91 for the same period.
Today, we shall look at;
- Safaricom Limited – Announcing a profit (after tax) of KES 7.8 Billion after only 6 months of operation is enough pique anyone’s interest. Also noted in the company’s half year results announcement yesterday was an increase in M-Pesa revenue by 32%. It was good news all round and shareholders reactions made the stock trade at an average of KES 4.45, due to increased demand. The corporate action may pave way for the stock to hit the KES 5 mark in its second half. Today, we shall focus on the change in its price (if any).
- Barclays Bank of Kenya – Despite poor performance in its results release, the bank has featured as one of the top traded counters for 2 consecutive days. Yesterday, the counter saw 1.27 million shares changing hands at the average price of KES 15.70. Though this price is lower than the previous day’s (by 10 cents), it is still within reach of the 52-week high of KES 16. It can be deduced that the shareholders maintain faith that the share will pick up in the coming months. Today, we shall keep an eye on the volume traded and total turnover at the counter.