Market Comment - 10.11.2021

First Mutual Property lifts the day’s volume... First Mutual Properties was the top traded counter by volume claiming 62.06% of the aggregate, leaving the other stocks scrambling for a 37.94%. National Foods, First Mutual Properties, Econet and Delta were the top value leaders of the day with a combined contribution of 69.8% to the outturn. Activity aggregates were mixed in Wednesday’s session as volumes traded jumped 184.19% to see 8.61m shares exchange hands while, value traded declined by 38.77% to $273.09m. The Old Mutual ETF advanced 0.23% to close at $4.7257 as 15,650 units traded. Elsewhere, on the VFEX no trades were recorded. A total of twenty-eight counters registered price movements distributed as eighteen gained and ten fell, to register a positive breadth of eight. Zimre Holdings headlined the gainers of the day as it surged 18.34% to $3.9780, trailed by conglomerate Meikles that advanced 11.95% to $239.4856. General Beltings garnered 11.12% to trade at $2.0000 while, Medtech which is trading under a cautionary rebounded 10.91% to $0.1596. Zimplow capped the top five winners of the day on a 7.79% surge to close at $24.2667. Property concern First Mutual Properties led laggards of the day as it declined 13.64% to $9.5001, followed by hotelier RTG that eased 13.01% to $4.8714. Brick manufacturer Willdale let go 5.53% to $3.2073 while, logistics group Unifreight succumbed 5.41% to $35.0000. Mashonaland Holdings capped the top five shakers on a 4.31% loss to $4.1097. The All-Share Index rose 2.02% to 12273.97pts while, the Blue-chip Index extended 3.11% to 7921.91pts. The segregated Industrials put on 2.04% to 40639.87pts, as the natural resources Index gained a negligible 0.05% to settle at 7100.49pts.