Of Banking Sector Activity on the NSE, Scangroup’s Decline and What Israeli-Palestine Clashes Mean for Investors

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Safaricom Crown Paints Xiaomi

Last week, the All-share index dropped by 3.12%, 5.3 basis points likely backed by the decline of Safaricom, a market mover whose price fell by 3.43% week on week, closing at Ksh 39.40 on Friday. Banks accounted for 60.92% of the market activity while Safaricom did 32%. NBV and Crown Paints topped the gainers list, moving 12.1% and 8.89%, respectively. On the losers side, Scangroup dropped by 8.85% because of the statement announcing delays on their financial statement.
Some of the matters moving markets this week include the mounting clashes between Israel and Palestine, which could pull in other countries like Iran, affecting things like oil prices. The involvement of countries like the US could affect local markets, as foreigners dominate the NSE.

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