EFE Securities •

6 years ago •

Market Commentary

Market Comment -08.12.2017

Industrials wane in week ending session, having dropped 2.00% to close at 335.97pts. The market traded sideways as most investors engaged in a wait and see attitude, post the cost cutting budget presented yesterday. The market established a negative breadth as eight fallers were recorded against six risers while, six counters remained unchanged. Heavy cap stocks Econet and Delta mainly contributed adversely to the market’s outlook, after the duo dropped 5.11% and 3.07% to $1.0403 and $1.5146 on selling pressure. Topping the losers of the day was Dairibord which eased 19.77%, OKZIM shed 8.09% to $0.2000 while, Proplastics dropped 5% to close at $0.0760. ZHL Led the gainers of the day after putting on 20% to settle at $0.0216, closing well bid at that level. Bankers NMB gained 6.67% to settle at $0.0960 as Axia added 0.89% to end the session at $0.1700. Sealing the risers, SeedCo continued to exhibit stability on its price gaining 0.29% to settle at $2.090.