EFE Securities •

2 years ago •

Market Commentary

Market Comment - 01.12.2021

Meikles highlights the market ... A negotiated deal in conglomerate Meikles highlighted today’s trading session as 122,903,771 shares exchanged hands at $94.0000. The trade accounted for 97.64% of total volumes and 97.52% of the value outturn. Activity aggregates improved as volumes traded ballooned 667.31% to 126.03m and turnover jumped 3387.63% to $11.8bn. The market closed with a positive breadth of five as fourteen counters gained against nine losers. Econet headlined the gainer’s pack on a 10.11% rise to $71.3765 post the release of its HY22 financial results in which a PAT of $6.66m was recorded and a dividend of $0.6000 per share was declared. Following was Mashonaland which advanced 4.92% to end at $4.3000. Retailer OK Zimbabwe and Sugar refinery Star Africa grew 2.17% and 1.63% to close at $23.5852 and $1.1741 apiece. Nickel miner Bindura completed the top five winners’ set as it inched up 1.17% after trading at $5.5492. Zimplow Holdings led the day’s fallers on a 4.78% drop to $23.6667, trailed by fintech group Cassava Smartech which dipped 3.80% to $40.4042. Zimre Holdings shed 1.69% to $3.8342 as Proplastics fell 1.34% to $29.5000. Banking group CBZ bank capped the top five losers’ pack as it slid 1.08% to $86.0000. On the VFEX, Padenga traded 10,200 units worth $USD2,040.00 as the price rose by 2.56%. The Old Mutual ETF improved 0.86% to $5.0000 on 15,610 units worth $78,050.00. The primary All Share Index put on 0.58% to 10757.21pts as the Industrial Index added a similar 0.58% to close the day at 35570.95pts. The Top Ten Index went up 0.75% to 6764.63pts while, the Mining Index added 0.71% to finish at 7244.24pts.