Market Comment - 13.12.2021

Heavies drag the market lower... Weakness on the bourse persisted in the new week as all three benchmark indices in our review closed in the red. The primary All Share Index let go 0.58% to close at 10535.21pts as the Industrial Index slipped 0.59% to 34814.26pts. The Blue Chips Index was down 0.78% at 6616.28pts. Thirty-three counters were active in the session disseminated into eleven gainers, seventeen fallers and five that were unchanged, to leave the market with a negative breadth of six. Turnall was the top faller of the day after succumbing 19.71% to $4.0147, trailed by Hippo that dropped 3.49% to $304.0000. Banking group First Capital retreated 2.38% to $147.4359 as beverages group Delta lost 1.72% to close at a vwap of $147.4359, having traded an intraday low of $140.0000. Mashonaland holdings capped the fallers of the day on a 1.54% decline to close at $4.0219. Agriculture concern Ariston led the loss mitigating pack of the day having jumped 6.39% to end at $3.8000, followed by banking group FBC that put on 1.11% to $33.2500, extending previous session’s gains. Proplastics gained 1.06% to $29.8000 as hotelier African Sun rose 0.75% to $6.0447. Bankers NMB capped the top five winners of the day on a 0.51% lift to $9.9500. Activity aggregates were depressed in Monday’s trades as volumes dipped 59.14% to 1.13m while, turnover plunged 79.93% to $33.29m. Top volume leaders of the day were Star Africa and OKZIM that claimed 33.38% and 15.05% apiece. Top Value leaders of the day were Delta, Simbisa and OKZIM with a combined contribution of 75.19%. The Old mutual ETF inched up 0.29% to end at $4.9328.