EFE Securities •

7 years ago •

Market Commentary

Market Comment 02.05.2017

The Industrial Index continued on its recovery route after ticking 0.32% up to close at 14.66pts narrowing its YTD loss to 0.60%. Similarly, the Mining Index surged 5.86% to touch a year high of 70.22pts. Top stocks PPC, Old Mutual, Econet and Delta spurred gains as BAT and SeedCo closed steady. Conglomerate Meikles topped the risers list after surging 14.45% to settle at $0.1505 having traded at an intra-day high of $0.1550 on resurgent demand. Solid demand in PPC , Old Mutual and Econet pushed their prices 1.15%, 0.62% and 0.58% up to close at $0.6625, $3.6700 and $0.1814 in that order. Innscor related groups Padenga and AXIA added 3.55% and 2.74% to $0.2071 and $0.0750 respectively. Out of twenty three active stocks, fourteen gained in value against three fallers in the session leaving the market with a positive breadth.