EFE Securities •

6 years ago •

Market Commentary

Market Comment -19.01.2018

Stocks failed to find support in the week ending session as losses deepened further on the bourse. The All share Index gave up 0.53% to 91.49pts, while cumulatively shedding 3.38% in the week. The Industrial Index lost 0.49% to 305.70pts, with the Top 10 Index, dropping 0.58% to settle at 90.58pts. Econet continue to weigh on the index as demand weakens further. The telecom giant dipped a further 5.63% to close at a vwap of $0.7007, having traded at an intra-day low of $0.70000. Insurer Fidelity topped the losers with a 9.60% slide to $0.0800, while Barclays let go 4% to end at $0.0480, Afdis completed the top five shakers for the day with a 2.03% dive to trade at $1.4500. Mitigating losses were gains obtaining in five counters, led by Multi-listed Old Mutual which ticked up 7.12% to $5.4566. Dairibord added 0.455 to $0.110500, Delta put on 0.45% to $1.5903, Padenga rose 0.27% to $0.4813 while, FBC firmed 0.25% at $0.2005 on resurgent demand.