EFE Securities •

2 years ago •

Market Commentary

Market Comment - 02.12.2021

ZSE extend gains as Caledonia debut on VFEX... Multi-listed mining corporation Caledonia listed on the VFEX today at a price of US$12.6000, with no trades recorded in all the three listed counters on the bourse. The ZSE buttressed prior sessions gains as all the indices under our review closed the day in the black. The All-Share Index rose 0.53% to 10814.15pts while, the Industrial Index put on 1.08% to close at 35749.49pts. The Blue-chip Index went up 0.91% to 6825.89pts, buoyed by gains in Econet and Meikles. The natural resources Index added 3.44% to 7493.21pts. Logistics group Unifreight headlined the gainers of the day as it surged 14.57% to $34.3726, trailed by telecoms giant Econet that advanced 9.12% to close at a VWAP of $77.8880. Nickel miner Bindura was 5.64% firmer at $5.8621 while, Mashonaland holdings jumped 5.23% to $4.5250. Sugar refiners Star Africa capped the top five winners of the day on a 3.87% gain to $1.2195, albeit on selling pressure. National Tyre Services led the laggards of the day as it declined 20% to $6.2400, followed by construction group Masimba that eased 12.28% to $50.0000. Seed manufacturer SeedCo shed 4.83% to $109.4444 while, Zimplow trimmed 1.67% to $23.2722. BAT capped the top five shakers’ pack on a 1.18% slump to $2668.2353. A total of twenty-seven counter registered price movements distributed into eleven gainers and sixteen fallers, leaving the market with a negative breadth of five. Activity aggregates faltered as volume of shares traded dipped 70.59% to 37.06m shares while, turnover plunged 98.64% to $160.99m. Volume outturn was anchored by FBC and Econet that claimed a combined 55.13% of the aggregate. FBC, Econet, and Delta were the top value leaders of the day as the trio claimed a combined foothold of 69.47% of turnover. The Old Mutual ETF improved 0.23% to $5.0117 on 24,626 units worth $123,418.00.