EFE Securities •

6 years ago •

Market Commentary

Market Comment -12.12.2017

The ZSE enjoyed a rising Tuesday session swinging back into the black as the market struggles for consistent direction amidst mixed signals in the economy. A re- emerging positive sentiment coupled with firm demand spurred the benchmark indices to gains with the main stream Industrial Index putting on 0.65% for the day and settling at 335.82pts while the Mining Index charged 5.67% to 140.32pts. Leading the market charge were gains in diversified group Meikles that added 19.52% and ended at $0.3000 while retail group Axia was up 1718% at $0.1992 to follow. Nickel mining house BNC’s recent rising momentum extended in today’s session putting on 9.15% and ending at $$0.0525 to push the mining Index up. The heavy weight duo of OML and ECO completed the top risers set with a 2.41% and 1.95% to trade at $4.50 and $0.9974 respectively. On the downside were losses in NMB, Ariston, and Mash that slipped 6.25%, 2.86% and 2.86% to end at respective prices of $0.9000, $0.0170 and $0.0340.