Market Comment - 12.10.2021

Bullish sentiment extends as CFI record trades... The bullish sentiment extended in Tuesday session to see the All-Share Index tick up a further 2.09% to 9979.59pts, just 0.20% shy of the 10000pts mark. The Top Ten Index was 2.63% stronger at 6035.62pts while, the Industrial Index grew 2.12% to 33003.09pts. The Mining Index inched up 0.15% to close at 6659.73pts. The agricultural concern CFI Holdings which recorded its first trade since its suspension in 2018, was the top gainer of the day as it soared 5712.04% to close at $41.1202. BAT rose 20.00% to $2,865.6000 while, banking group First Capital Bank added 7.48% to $3.5827. Firming demand in Econet helped push the telecoms giant to $66.5065 on a 6.21% surge, having traded an intra-day high of $70.0000. Axia capped the risers pack with a 4.97% improvement to close at $30.4496. Topping the losers’ set was African sun which plunged 15.75% to trade at $9.0923 as Proplastics let go a further 5.41% to end at $25.3865. Willdale went down 2.36% to $4.1005 while, hotelier RTG Limited trimmed 1.69% to $5.8000. CBZ completed the top five fallers’ set on a 0.95% drop to end pegged at $95.0500. Twenty-one counters registered against seventeen fallers while, five remained stable. Activity aggregates were depressed as volumes dipped 37.60% to 8.21m shares while, turnover succumbed 61.05% to $365m. OKZIM emerged the most liquid stock of the day dominating both values and volume category claiming 17.88% of the former and 34.86% of the latter. Other notable value leaders were Delta (30.38%), Innscor (12.64%), Simbisa (11.17%) and Econet (8.32%). Foreign sales stood at $46,884,459.00 with purchases amounting to $33,000.00 to leave the market with a net funds outflow position. A total of 35,875 units worth $143,500.00 traded in Old Mutual Exchange Traded Fund traded at a price of $4.0000. On the VFEX, 15,000 Padenga shares traded at price of $0.2300 with no trades recorded in SeedCo International.