Market Comment - 16.11.2021

ZSE retreats further... The ZSE retreated further in Tuesday’s trades as the All-Share Index let go 0.37% to settle at 12330.22pts while, the Industrial Index lost a similar 0.37% to end at 40841.02pts. The natural resources Index was 0.21% lower to 6810.00pts as Bindura continued to wane. The ZSE Top Ten Index went down 0.52% to 7996.85pts with losses mainly recorded in Delta, Innscor and Ok Zimbabwe. A total of twenty counters weighed on the market with ART Corporation emerging as the worst performer of the day on an 8.33% loss to $11.0000. Beverages group Delta trailed behind as it eased 5.93% to trade at $181.5563 while, conglomerate Innscor dipped 2.71% to $190.7123. Retailer Ok Zimbabwe tumbled 2.06% to $29.3227. Nampak capped the top five shakers of the day on a 1.79% drop to $11.0000. Banking group CBZ and financial services group Getbucks led the gainers of the day as they jumped 13.45% and 8.89% respectively as the former closed at $110.0000 while, the latter ended at $8.1667. Fintech group Cassava surged 4.36% to $52.4935 while, ZB Financial Holdings added 2.67% to $77.0000 post the release of a trading update in which the group highlighted that the net interest and trading income increased by 313%. SeedCo Limited capped the top five winners of the day on a 2.07% rise to $122.9534. Activity aggregates of the day faltered as volumes of shares traded declined by 74.67% to 3.29m shares exchanging hands while, turnover retreated 48.01% to $267.17m. Delta, OK Zimbabwe and Cassava led the volume leaders of the day as they claimed a combined 58.22% of the aggregate. Delta led the value leaders of the day as it contributed 62.68% of the turnover, to see other counters scrambling for the remaining 37.32% of the turnover. The Old Mutual ETF rose 0.13% to $4.9999 as 38,040 units exchanged hands. Elsewhere, on the VFEX market no trades were recorded.