EFE Securities •

2 years ago •

Market Commentary

Market Comment - 16.12.2021

Bloodbath continues on the ZSE... The ZSE downward trend continued in Thursday’s session as the three benchmarks we review closed pointing southwards. The primary All Share Index shed 1.22% to end at 10052.48pts while, the segregated Industrials lost an almost similar 1.23% to 33199. 51pts. The ZSE Top Index was 1.29% weaker at 6226.37pts. Leading the fallers’ pack was conglomerate Meikles that plunged 17.24% to close at $105.1437 as Mashonaland Holdings dipped 15.79% to $3.2000. Milk processor Dairiboard succumbed 13.04% to $40.0000 as Axia was 6.42% down at $26.2025. Banking group CBZ capped the top five laggards of the day after dropping 5.31% to $73.8571. Hotelier African Sun led the gainers of the day on a 14.00% surge to $6.9971, followed by banking group NMB bank which put on 9.76% to $11.0000. Brick manufacturer Willdale went up 7.20% to finish at $2.8005 while, Zimre Holdings added 0.06% to $3.8940. Zimbabwe Newspapers inched up 0.03% to $3.0000 capping the top five winners’ list. A total of twenty-three counters registered price movements distributed into sixteen fallers and seven gainers to record a negative market breadth. Activity aggregates remained subdued during the session as volumes traded went down 38.41% to 1.11m shares while, turnover declined 18.40% to $96.5m. Delta, Innscor and Econet anchored both the volume and value categories as they contributed a combined 55.31% to the latter and 84.62% to the former. Other notable volume contributors were Proplastics and Mashonaland Holdings which accounted for 11.92% and 10.57% apiece. The Old Mutual ETF traded slid 0.12% to end at $4.9942 as 5,615 units worth $28,042.5000 traded. No trades were recorded on the VFEX.