The Nairobi All Share firmed 0.3245% to close at 123.63. The All Share is +30.3289% this year and 4.11% below its 2013 closing high from the 22nd of May.

The Nairobi NSE20 rose 3.15 points to close at 4796.97. The Nairobi NSE20 is +16.041% this year and 4.65% below its 2013 closing high of 5030.91 from the 2nd of April.

Equity Turnover was 591.617m versus 282.956m. There were 17 winners and 20 losers.

The Big Cap counters were strong with Kenya Commercial Bank setting a record closing high for the 2nd consecutive session and is +44.5378% this year.

Safaricom rallied 1.4% and is +43.564% this year. EABL rebounded 0.865% on heavy volume and after the previous session's price swoon.

In Commercial and Services

Safaricom traded 3rd at the Securities Exchange and rallied 1.4% to close at 7.25 and was trading at session highs of 7.35 +2.8% at the finish line.

Safaricom traded 12.127m shares worth 88.080m. Safaricom is +43.564% in 2013 and sits 3.97% below its July 2008 closing high of 7.55 reached earlier this year.

I expect Safaricom to head towards 8.00, notwithstanding some recent and quite adversarial interference from the regulator.

ScanGroup rallied 3.90625% to close at 66.50 and on heavy volume [for ScanGroup] of 626,600 shares worth 41.953m. ScanGroup was trading at 67.00 +4.69% session highs at the finish line.

The news of the South African Acquisition [and I expect a sequence of bolt-on acquisitions, in fact] has firmed up the price. There are few SSA advertising proxies I can think off other than ScanGroup and this justifies the trailing PE of 30.09. WPP is the biggest shareholder with a 31% Piece of the ScanGroup action further thinning out the supply side.

LongHorn Kenya rallied 9.01% to close at 12.70 and traded 5,500 shares. Longhorn Kenya has rallied +58.75% in July.

Kenya Commercial Bank firmed 0.58% to close at 43.00 and set a record closing high for the second consecutive session. Kenya Commercial Bank traded 2.302m shares worth 99.453m.

Kenya Commercial Bank traded a 42.50-43.75 range and 2.302m shares worth 99.453m. Kenya Commercial Bank is +44.5378% in 2013, trades on a trailing PE of 10.4622 and Investors are keenly awaiting the release of H1earnings.

Equity Bank traded 4th at the exchange and eased 0.75% to close at 33.25 and traded 2.629m shares worth 87.897m the day after releasing its H1 Earnings where H1 PAT accelerated +16.746%.

CFC Bank rebounded +2.29% to close at 67.00 and traded 13,500 shares. COOP Bank firmed 1.27% to close at 15.90 and traded 1.071m shares.

EABL rebounded 0.865% to close at 349.00 and was trading at 355.00 +2.6% and session Highs at the Finish Line. EABL had wobbled a little yesterday and traded shares as low as 321.00 -8.806% yesterday.

EABL was the most actively traded share at the Securities Exchange and traded 439,600 shares worth 153.561m. The performance was an appropriate response to the previous session's scrappy trading.

EABL is +31.698% in 2013, trades on a trailing PE of 25.928 and reported a +10.28188% acceleration in H1 turnover and a -13.088455% deceleration in H1 PBT.

Transcentury was the biggest loser and retreated 5.04% to close at 33.00 and traded 12,000 shares.