Selected heavies weigh down the market…
Selected heavies weighed on the market in Tuesday’s session as three of the four indices we review closed in the red. The All-Share Index was 0.29% weaker at 171,750.98pts while, the Blue-Chip Index retreated 0.61% to 74,788.91pts. The Agriculture Index faltered 0.98% to 589.08pts while, the Mid Cap Index rose 0.38% to 721,675.76pts. Headlining the losers of the day were heavy cap counters that clinched the top four spots in the laggard’s category with OK Zimbabwe leading after succumbing 12.84% to settle at $165.0180. Seed technology group SeedCo Limited trailed on a 10.01% loss to $726.6953. Beverages giant Delta continued to lose ground in the session as it plummeted 2.02% to $3,234.9246 while, fintech group Ecocash eased 1.90% to $112.9497 on selling pressure. Sugar producer Star Africa shed 0.74% to $4.4000 as it capped the top five shakers of the day. Partially offsetting today’s losses was life assurer Fidelity that charged 15.00% to $207.0000, albeit on scrappy 500 shares while, First Mutual Holdings advanced 8.11% to $850.0000. Telecommunications group Econet continued on an upward trend as it firmed up 5.08% to $630.9721, having traded a high of $650.0000 while, Zimre Holdings Limited notched up 0.32% to close at $130.0000. Sugar producer Hippo eked out narrow gains of 0.09% to $2,001.7628.
Activity aggregates traded mixed in the session as turnover rose 1.07% to $3.12bn while, volume traded tumbled 56.69% to see 8.45m shares exchange hands. OK Zimbabwe continued to dominate the volume category in the session as it contributed 66.20% of the aggregate. The other notable volume driver was Econet with a 13.16% contribution. Turnover drivers of the day were OK Zimbabwe, Delta, Econet and SeedCo with a combined contribution of 87.60% of the total. In the ETF category, only one fund registered price movements in the session. The Old Mutual Top Ten ETF gained 1.60% to $35.0000 as 2,600 units exchanged hands. The Datvest MCS was stable at $9.0000 on 5,749 units. The Tigere REIT was up 0.71% to close at $254.8886.