EFE Securities •

2 years ago •

Market Commentary

Market Comment - 23.11.2021

Blood bath on ZSE as heavies falter... The ZSE ended today’s session in a blood bath as twenty-seven bears raged on seven bulls to see the market close with a negative breadth of twenty. Hotelier African Sun led the decliners of the day on a 16.40% slump to $8.0000 as logistics group Unifreight trailed on a 11.76% loss to trade at $30.0000. Telecoms giant Econet shed 10.32% to end pegged at $63.0019 while, retailer OK Zimbabwe was 9.45% softer at $26.1115. Nickel miner Bindura capped the top five laggards of the day as it came off 7.86% to $4.3598. Other notable fallers of the day were Delta (-4.54%), CBZ (- 4.35%), Innscor (-1.91%), National Foods (-1.81%) and Cassava (-1.57%). Medtech was the top gainer of the day after gaining a whopping 6129.95% to close at $35.3986 post the consolidation of its shares, trailed by packaging group Nampak which jumped 9.54% to $11.0000. Banking group NMB advanced 4.45% to $10.5000 as hotelier RTG inched up 2.76% to $5.6600. Zimre Holdings completed the top five winners of the day after putting on 2.55% to $3.9999. The All-Share Index retreated 3.22% to close at 11,146.97pts while, the Industrial Index lost an almost similar 3.21% to 36,915.40pts. The Mining Index was down 4.49% at 6,297.90pts as the Top Ten Index let go 3.68% to 7,030.83pts. Activity aggregates enhanced as the volume of shares traded ballooned 50363.08% to 617.34m shares while, turnover jumped 5933.48% to $4.12bn. Rainbow Tourism Group highlighted today’s session as the hotelier dominated both the volume and value categories claiming 98.50% of the former and 83.50% of the latter. The Old Mutual ETF lost a negligible 0.01% to $5.2888 as 25,147units were traded. No trades were recorded on the VFEX.