EFE Securities •

3 years ago •

Market Commentary

Market Comment - 11.11.2021

Selected heavies lead market gains... The market maintained a positive momentum as the All-Share Index notched 1.45% to close at 12451.76pts while, the Industrial Index was up 1.49% to end at 41244.79pts. The Blue-chips Index put on 2.57% to 8125.83pts as the Mining Index suffered a 3.50% knock to finish the day at 6852.28pts. Topping the gainers of the day was pharmaceutical distributors Medtech that surged 18.23% after trading at $0.1887, trailed by ART Holdings which jumped 13.83% to $11.5400. Beverages giant Delta Corporation inched up 7.90% to $192.0422 post the release of impressive HY22 financial results in which a PAT of $6.64bn was reported in inflation-adjusted terms and declared a dividend of ZWL$0.7500 per share. Apparel retailers Edgars gained 7.60% to settle at $5.3800 while, banking group CBZ capped the top five winners’ list on a 5.11% rise to $100.0000. TSL was the worst performer in the session after a 20.00% drop to close at $66.4000, followed by Turnall Holdings which shed 15.43% to $5.0000. NMB was 12.42% weaker at $12.2609 while, mining house Riozim lost 7.68% to $37.6667. Ariston Holdings completed the top five decliners of the day on a 4.85% retreat to $3.5074. The market closed with a positive breadth of nine as twenty counters recorded gains against eleven fallers. Volumes traded improved 65.50% to 14.24m shares while, turnover went up 39.73% to $381.60m. The major highlight was First Capital bank which dominated the volumes category on a 76.09% contribution. Delta, Econet, Innscor, Simbisa and First Capital Bank contributed 37.83%,12.66%,11.25%,9.99% and 8.95% to the value outturn respectively. Foreigners were net sellers in the session as sales amounted to $130.56m while, purchases stood at $21.96m. The Old Mutual ETF rose 0.56% to $4.7524 on 210,554 units.