Market Comment -02.03.2018

Losses continued on the ZSE in week ending session as three of the indices closed in the red with the exception of the Mining Index which remained stable at 128.91pts for the fourth consecutive session. The All share Index retreated 0.68% to 87.26pts while, Industrial index lost 0.69% to end the session at 291.95pts. ZSE Top 10 dropped 0.93% to 86.05pts weighed down by heavy caps BAT, Delta and Econet which emerged amongst the losers of the day. Tobacco Processor, BAT plunged 7.03% to close at a vwap of $22.3138, Mash slumped 6.69% to $0.0279 and Nampak pulled back 3.03% to $0.1600. The duo of Padenga and Meikles completed the decliners for the day, after dropping 2.39% and 1.64% to end pegged at $0.4293 and $0.3000 respectively. PPC topped the gainers adding 3.15% to $0.9000 trailed by CBZ which gained 2.94% to $0.1050 while, Old mutual ticked up 1.41% to $5.4001. Dairibord and Innscor traded at $0.1105 and $0.9208 after putting on 0.36% and 0.09% apiece. Foreign participation dominated today’s session as reflected in foreign purchases which ballooned 1186.18% to $2.55m while, foreign sales enhanced 531.02% to $1.19m. Turnover for the day expanded 427.70% to end at $3.86m with volume of shares traded increasing by 75.20% to 6.81m shares. Block trade in Econet was the major highlight of the day with 44.32% contribution to the volume outturn and 53.16% contribution to value total. The market registered 94 trades which was 104.35% higher as compared to Thursday trades.