EFE Securities •

2 years ago •

Market Commentary

Market Comment - 01.11.2021

Volumes drop to year-lows... Volumes traded dropped to a year-low in the month opening session after declining 78.42% to 0.87m shares while, turnover dipped 78.70% to $30.29m. National foods stamped authority in the value segment as the group contributed 59.65% of total turnover while, volume drivers of the day were Medtech, Ariston, OKZIM and Proplastics that claimed a combined 76.64%. Foreign sales amounted to $2.68m with nil purchases position in the session. Old Mutual Exchange Traded Fund retreated 1.60% to close at $4.5115 with no trades on the VFEX. A total of twenty-three counters were active in the session distributed as nine gainers, ten fallers and four that sailed stable, leaving the market with a negative breadth of one. Leading the gainers of the day was banking group CBZ that jumped 19.50% to end pegged at $110.0000 on a scrappy 300 shares, trailed by National Foods which soared 12.50% to register it year to date high of $1,800.0000. Bankers NMB advanced 8.17% to settle at $13.0000 while, hotelier African Sun extended 1.92% to $10.7000. Property concern FMP capped the top five winners of the day on a 1.67% improvement to end pegged at $12.2000. Cassava topped the fallers’ pack after succumbing 4.18% to $40.2067 having traded a low of $40.0000, followed by life assurer Fidelity that shed 1.72% to $8.0000. Medtech retreated 1.35% to trade at $0.1610 while, FML trimmed 0.86% to $23.0000. Agriculture concern Ariston completed the shakers of the day on a 0.69% loss to a vwap $3.6729. The mainstream All Share Index put on 1.47% to 11496.10pts as the Industrials added 1.48% to close at 38064.35pts. The ZSE Top Ten Index rose 2.02% to 7228.37pts while, the resources Index gained a negligible 0.04% to 6654.70pts.