EFE Securities •

7 years ago •

Market Commentary

Market Comment 27.04.2017

The Industrials extended gains in Thursday’s trades buoyed by nine bulls against one faller, to leave the market with a positive breadth of eight. Persistent demand prevailed on the board as six heavies and two mid cap stocks registered gains to help push the Index further to 142.91 after putting on 0.53%. Sugar processor Hippo led the gainers of the day with a 4.55% surge to touch a year high of $0.4600. Innscor and its related companies Padenga and Simbisa were amongst the risers with respective gains of 3.64%, 3.63% and 0.57% to end pegged at $0.4695, $0.2000 and $0.1775. FML and ZB completed the top five risers set after adding 3.55% and 2.76% to $0.0700 and $0.1305 apiece. Old Mutual and SeedCO were amongst the heavies to drive the Index northwards as the duo ticked up 0.21% and 0.05% to close at $3.6576 and $0.9475 in that order. Banking group NMB was the sole faller of the day after succumbing 2.94% to settle at $0.033, though closing firmly bid at that level.