EFE Securities •

2 years ago •

Market Commentary

Market Comment - 17.12.2021

All Share reaches a 49-day low... The market extended losses for the seventh consecutive session as the All Share Index registered a forty-nineth day low of 9914.76pts after letting go 1.37% while, the Industrials slipped 1.38% to close at 32739.96pts. The ZSE Top Ten Index slid 1.43% to 6137.22pts. Small caps anchored the fallers’ pack with Mashonaland emerging as the major casualty of the day on a 16.31% decline to end at $2.6780. Dairibord followed after trimming 15% to $34.0000 while, Getbucks dropped 13.19% to $2.0800. Medtech succumbed 11.86% to settle at $52.0000 with logistics group Unifreight capping the top five laggards of the day, recording a 10.49% loss to $29.5385. Hotelier RTG headlined the winners of the day after jumping 17.05% to $7.0000, albeit on scrappy 500 shares, trailed by Axia that ticked up 4.13% to $27.2853. Brick manufacturer Willdale went up 3.62% to $2.9020 as property concern FMP rose 3.28% to $7.8000. Conglomerate Meikles gained 1.60% to $106.8273 and completed the top five risers set. Fallers of the day outweighed gainers by a count of seven, leaving the market with a negative breadth. Activity aggregates improved in Friday’s session as volumes rose 76.94% to 1.98m with turnover adding on 10.30% to $106.43m. Volume leaders of the day were CBZ, Cassava, Delta, First Capital and Proplastics that contributed a combined 70.91%. CBZ and Delta claimed 36.87% and 27.37% of the value outturn apiece. Old Mutual ETF slid 0.49% to $4.9696 as 6,127 units worth $30,448.6500 traded while, no trades were recorded on VFEX. Foreign purchases dipped 91.67% to $1.33m while, sales ballooned 200.20% to $9.22m, leaving the market with a net funds outflow position.