EFE Securities •

3 years ago •

Market Commentary

Market Comment - 02.11.2021

Gains extend on the bourse... The market extended gains in Tuesday’s session to see four of the indices under our review closing in the black. The natural resources index outperformed other indices as it rose 9.56% to 7291.20pts buoyed by gains in Bindura. The traditional Industrial Index was 0.90% up at 38408.08pts while, the Blue-Chip Index added 0.72% to 7280.51pts. The All share Index rose 0.97% to 11607.88pts. Media group Zimpapers led the gainers of the day as it surged 20% to $3.6000, albeit on scrappy shares, trailed by TSL that climbed 19.57% to settle at $82.5000. Nickel miner Bindura gained 16% to close at $5.8000 while, spirit and wine manufacturer AFDIS advanced 9.65% to $109.7000. Banking group NMB capped the top five winners’ list on a 7.69% jump to end pegged at $14.0000. A total of twelve counters weighed on the market with Mashonaland emerging as the worst performer as it eased 10.79% to end pegged at $3.0991. Star Africa which is trading under cautionary dropped 5.33% to $1.4200 while, logistics group Unifreight tumbled 4.11% to $35.0000. Zimre Holdings shed 3.33% to settle at $3.5467 while, brick manufacturer Willdale capped the top five losers’ set on a 2.23% slump to $3.6077. Volumes of shares traded ballooned 397.83% to 4.31m as Innscor, Star Africa, Econet, Ariston and Delta claimed a combined foothold of 75.7% aggregate. Turnover enhanced 1021.29% to $339.60m as Innscor, Delta and Econet claimed a total of 85.39% of the value outturn. Old Mutual ETF jumped 2.66% to $4.6313 as 18,463 units worth 85,507.10 exchanged hands. Elsewhere, no trades were recorded on the VFEX.