EFE Securities •

3 years ago •

Market Commentary

Market Comment 2

Firming demand in selected stocks across the board helped sustain the market in the black. The mainstream All Share Index scratched a 0.24% gain to see it end at 4165.74pts with the segregated Industrials posting 0.14% gain to close at 13943.27pts. The Top Ten put on 0.18% to 2598.95pts while, the Minings were 6.14% higher at 5095.39pts mainly spurred by RioZim which topped the risers of the day on a 20% surge to $19.2000. Similarly, CAFCA rose 20% to $96.000 while, Unifreight continued with its glitter after ticking up 19.90% as it ended at $1.8525 on firming demand. Fidelity edged higher at $2.5891 after a 17.69% rise. Edgars added 14.18% to $2.0983 to complete the top five risers set. SeedCo led the shakers list after succumbing13.71% to $30.0524 while, apparel retailer Truworths lost 5.95% to $0.7806 as demand continued to wane. FBC was 2.12% lower at $25.0000 while, hotelier RTG dropped 1.82% to $1.7875 as occupancy remains low. Other losses in heavies were in Innscor, Padenga and Meikles. Activity aggregates declined further on yesterday as seen in the day’s turnover which went down 28.49% to $61.28m while, volumes exchanged dropped 15.07% to 5.34m shares. Twenty-one counters gained against sixteen fallers as four sailed stable to leave the market with a positive breadth. A deficit balance of payment was recorded as inflows of $5.88m were registered against outflows of $26.08m.