EFE Securities •

3 years ago •

Market Commentary

Market Comment - 15.11.2021

Heavies weigh down the market... Losses in selected heavies dragged down the market in the week-opener as all the four benchmark indices under our review closed in the red. The All-Share and the Industrial Indices trimmed an identical 0.53% to close the day at 12376.10pts and 40993.49pts respectively. The ZSE Top Ten Index retreated 0.91% to 8038.50pts as the Minings shed 0.50% to 6824.08pts. The worst faller of the day was banking group NMB that succumbed 14.29% to $12.0000 reversing previous session’s gains. Trailing was Meikles which declined 9.84% to $220.000 as Mashonaland followed thereafter on a 4.61% loss to $4.0063. Zimplow went down 3.60% to $26.0000 while, banking group CBZ let go 3.00% to settle at $96.9560 post the release of the company’s HY21 financials in which a PAT of $2.43bn was reported and proposed a dividend of $0.9578. Turnall led the risers of the day after putting on 10.00% to close at $5.5000 as FML rose 8.67% to $25.0000 on scrappy 100 shares. FBC improved 6.25% to $34.0000 as Medtech added 3.95% to $0.1896. Retailer OKZIM capped the top five winners of the day on a 3.22% lift to $29.9383. A total of thirty-two stocks registered price movements distributed into eighteen gainers and fourteen fallers, as the market closed with a positive breadth of four. Volume of shares traded jumped 62.74% to 13.01m with First Capital and Simbisa claiming 54.02% and 27.16% apiece. Market spend was 83.64% firmer at $513.92m as Simbisa and Delta anchored the aggregates with a combined contribution of 84.30%. The VFEX halted its seven-day slumber as Padenga slipped 0.41% to close at $0.1950 on 1,300 shares worth $253.5000. The Old Mutual ETF gained 1.57% to $4.9932 on 15,455 units.