EFE Securities •

7 years ago •

Market Commentary

Market Comment 05.05.2017

The market edged higher in week ending trades putting on a hefty 1.18% to 145.26 resulting in positive year to date gains for the first time this year of 0.51%. Constrained supply on the market triggered the sharp increase in price for most of the counters on the ZSE. Heavies CBZ, Econet, Delta, Old Mutual and Innscor were amongst the risers of the day, adding more weight in the Index after putting on 4.8%, 4.7%, 2.08%, 0.34% and 0.21% to end the session pegged higher at $0.0996, $0.1896, $0.8825, $3.7025 and $0.4725 respectively. Telecoms giant Econet traded at an intra-day high of $0.2000, closing with a distant spread of $0.1865-$0.2000. Brick Manufacturer Willdale Topped the gainers of the day with a 42.86% surge to trade at $0.0050, as the company announced a proposal to sell off excess land banks and settle its debt. Banking group ZB ticked up 14.94% to $0.1500 while Dairibord added 9.56% to close at $0.0550. On the downside were the trio of RTG, CFI and FML which succumbed 18.33%, 1.96% and 1.54% to $0.0098, $0.1250 and $0.0702 in that order.