EFE Securities •

6 years ago •

Market Commentary

Market Comment -21.12.2017

The Industrial Index continued with its southward trajectory as it lost a further 0.22% to 317.73pts with the loss being precipitated by Meikles which succumbed 12.47% to $0.2801 and heavy cap Econet which plunged 2.23% to settle at a volume weighted average price of $0.8408, having traded an intra-day high of $0.8600. Gains in the Industrial cluster were led by banking group Barclays which rebounded 9.09% to $0.0600 as FML trailed after ticking up 5.41% to $0.1950. Heavies Delta and Old Mutual added 0.17% and 0.04% to end pegged at $1.500 and $4.5479 respectively. The Mining Index rode on the gains in Bindura and added 0.54% to close the session at 142.24pts. Foreign participation was dominant in today’s session as inflows contributed 76.5% of the day’s turnover while, portfolio disposals added 47.93% of the same.