EFE Securities •

2 years ago •

Market Commentary

Market Comment - 08.12.2021

ZSE retreats as Caledonia registers first trade... The market slipped into the red in midweek session weighed down by losses mainly seen in heavy capitalised stocks. The primary All Share Index and the Industrials let go a similar 0.68% to close at 10887.61pts. The Blue Chips Index slid 0.45% to 6879.21pts with the resources Index putting on 0.12% to 7851.26pts. Packaging group Nampak topped the laggards’ set after trimming 8.08% to $11.0000. Banking groups CBZ and FBC shed 6.61% and 6.02% to end pegged at $80.0000 and $31.2500 apiece. Agric-concern Ariston was down 4.06% to $3.2621. Hippo capped the top five shakers of the day on a 1.56% retreat to $315.0000, post the release of its HY22 results in which the group recorded a decline in PAT of 7% to $1.4bn, declaring a dividend of ZWL$1.0800 per share. Other notable fallers of the day were Econet (-1.16%), OKZIM (-1.02%), Delta (-0.73%) and Natfoods (-0.42%). Gainers of the day were led by General Beltings which surged 17.28% to $2.3455. Following was hotelier African Sun that rose 6.61% to $6.2456 as brick manufacturers Willdale improved 5.56% to $3.0000. Clothing retailer Edgars advanced 3.99% to $5.2000 with Zimpapers completing the top five winners’ pack on a 3.57% uplift to $2.9000. The market closed with a negative breadth of one as fourteen counters fell against thirteen that gained. Volume of shares traded ballooned 113.94% to 4.15m yielding a turnover of $244.76m which was a 74.60% jump. Top volume drivers of the day were FBC, Econet and Star Africa that claimed 39.10%, 13.03% and 10.78% respectively. Anchoring the value outturn of the day were FBC, Delta, Econet and Innscor that claimed a shared 79.11%. On the VFEX, Caledonia registered its first trade in which 100 shares traded at USD$13.0000 as Padenga improved 4.95% to close at USD$0.2099. The Old Mutual ETF was flat at $5.0000 as a total of 6,715 units worth $33,575.0000 exchanged hands.