EFE Securities •

7 years ago •

Market Commentary

Market Comment 24.04.2017

Telecoms giant reversed previous gains pulling down the Industrial Index in week opening trades that saw the index closing in the red. The mainstream index closed 0.13% lower at 141.32pts as a hefty loss of 2.58% in Econet to $0.1700, pushed it southwards. The market recorded five gainers against one faller though the weight In Econet managed to sway the Index into the red. Mitigating the losses for the day were gains led by CFI which surged 10.20% to touch a high of $0.1405 while, dual listed PPC ticked up 3.97% to end the session at 0.6550 on persistent demand. Padenga firmed 1.31% to $0.1930 while, conglomerate Old Mutual completed the risers list with a 0.15% lift to see its shares being exchanged at $3.6300 on firming demand. The Mining Index rose 0.12% to close at 66.33pts and is now 13.37% up on YTD basis. The resources sector was spurred by gains in RioZIM which added 0.22% to end at $0.50 closing well bid at that level.