EFE Securities •

6 years ago •

Market Commentary

Market Comment -19.12.2017

The Industrial Index extended its losses by a further 1.36% or 4.45pts to settle at 322.96pts while the Mining Index dropped a marginal 0.05% to end at 141.61pts. Three counters lost ground, led by insurer Nicoz Diamond which succumbed 17.29% to $0.0397 while, the Telecoms giant Econet lost a further 10.64% to close at 0.8757 on waning demand. Nickel miner Bindura reversed its previous gains with a 0.18% drop to $0.0542, weighing down the resources index. Offsetting the loses were gains led by Old Mutual which surged 14.86% to close at a vwap of $5.1691, having traded at an intra-day high of $5.2025, as demand on the stock continues to firm. Axia added 11.19% to $0.1798 while, Simbisa traded 1.40% higher at $0.3900 on scrappy shares