EFE Securities •

6 years ago •

Market Commentary

Market Comment -18.12.2017

The mainstream Industrial Index slid further in Monday trades after succumbing 0.31% to 327.41pts. The weakness in the Index was triggered by softening demand in five stocks AXIA, NMB, Econet and Innscor. Topping the fallers set was retailer Axia which plunged 18.83% to settle at a vwap of $0.1617. Banking group NMB dropped 4.26% to $0.0900 on weak demand while, telecoms giant Econet lost 0.62% to end at $0.9800, closing well offered at that level. Conglomerate Innscor completed the fallers set with a 0.18% slip to $1.0000 as a paltry 359 shares exchanged hands. Mitigating the losses for the day were gains led by hotelier RTG which ticked up 5.26% to $0.0100 while, Simbisa trailed as it rose 1.21% to $0.3846. Multi listed Old Mutual broke its prolonged stable price to close with a vwap of $4.5001after a negligible 0.004% lift, closing well bid at $4.5000. The Mining Index edged higher to 141.68pts after putting on 0.15%, spurred by gains in Bindura which added 0.56% to settle at $0.0543, having traded at an intraday high of $0.05500