EFE Securities •

3 years ago •

Market Commentary

Market Comment - 25.10.2021

Heavies drag the ZSE... Losses in selected heavies weighed down the market in the last trading week of the month of October. The All Share and the Industrial Indices let go a similar 2.02% to end at 11852.40pts and 39224.76pts apiece. The ZSE Top Ten Index retreated 2.04% to close at 7521.97pts while, the Mining Index was down 2.29% to 7278.49pts. Leading the top five shakers of the day was cement manufacturer Lafarge which declined 14.48% to $96.0000, following the release of a cautionary statement involving the collapse of the roof of one of its cement mills. Trailing was ZHL that shed 8.16% to $3.6351 as Proplastics slipped 7.69% to $30.0000. SeedCo Limited trimmed 6.84% to settle at $124.9333 having traded 75,000 shares worth $9,370,000.00. Econet completed the top five fallers’ list on a 6.59% loss and closed at a vwap of $84.4948. Other notable fallers of the day were Innscor (- nineteen. Activity aggregates were depressed in Monday’s session as volumes dipped 40.44% to 1.49m shares while, value outturn succumbed 24.17% to $465.43m. First Mutual and Axia claimed 18.49% and 11.52% of the volume aggregate. Anchoring the value aggregates were Innscor, Delta, SeedCo and Axia with a combined contribution of 75.71%. Foreigners were net sellers in the session with sales amounting to $7,942,270.00 against purchases worth $116,600.00. Padenga closed at an unchanged price of $0.2200 having traded a mere 280 shares worth USD$61.6000 in one trade, with no trades recorded in SeedCo International. The Old Mutual ETF grew 2.26% to $4.5055 on 57,249 units.