EFE Securities •

2 years ago •

Market Commentary

Market Comment - 14.12.2021

ZSE losing streak extends... The ZSE extended losses in Tuesdays trades as all the benchmark indices under our review closed the day in red, signalling profit taking. The All-share Index was 1.79% weaker at 10346.40pts while, the segregated Industrials shed 1.82% to 34180.55pts. The Top Ten Index was the major casualty amongst the indices as it lost 2.48% to settle at 6452.12pts. A total of twenty-three counters weighed on the market with conglomerate Meikles emerging as the worst performer of the day after plunging 18% to close at $127.0138. Banking group First Capital trailed as it lost a further 14.94% to trade at a vwap of $2.8990. Cement manufacturer Lafarge eased 12.09% to $80.0000 while, Art holdings was 12.04% down to $9.5000. Beverages group Delta continued to lose ground as it dropped 5.06% to $139.9826. Hotelier Rainbow Towers Group headlined the top five winners list of the day on a 19.61% rise to $5.9804, trailed by CFI Holdings which advanced 10.80% to $80.0000. General Beltings was up 10.68% to trade at $2.6000 while, RioZIM added 2.70% to close at $38.0000, having traded at an intraday high of $39.0000. Apparel retailer Edgars capped the top five gainers of the day on a 1.70% rise to settle at $5.0848. Activity aggregates of the day improved as volume of shares traded jumped 333.18% to see 4.88m shares exchanging hands while, turnover ballooned 1131.32% to $409.88m. Econet and Delta were the volume leaders of the day as the duo claimed a combined contribution of 69.01% of the aggregate. Econet, Delta and Innscor led the turnover contributors of the day with a combined foothold of 90.9% of the value traded. The Old Mutual ETF added 0.08% to $4.9367 as 25,286 units exchanged hands. Elsewhere, Padenga put on a negligible 0.05% to close at USD$0.2100 as 3,000 shares worth USD$630.0000 exchanged hands.