Heavies weigh on the market…
Heavies weighed down the market in Tuesday’s trades as the All Share Index plummeted 1.88% to settle at 550,881.68pts. The Blue-Chip Index was 1.93% lower at 245,226.99pts as majority of the counters in the Index closed pointing south. The Agriculture Index ended the session subdued as it closed 0.08% lower at 1,546.56pts while, the Mid Cap Index added 0.59% to 2,240,030.99pts. Fintech company Ecocash that is trading under a cautionary led the laggards of the day as it shed 14.93% to $636.1919 while, Meikles eased 10.28% to end pegged at a VWAP of $3,621.0233 where demand could be found. Retailer OK Zimbabwe parred off 10.06% to close at $808.9005 while, packaging company Nampak retreated 4.58% to $500.0000 as 700 shares exchanged hands. Beverages giant Delta capped the top five laggards of the day as it succumbed 3.23% to close at $7,900.2340. Partially offsetting today’s losses were the duo of ART and Cafca that charged 15% apiece to settle at $149.5000 and $6,612.5000 respectively. Apparel retailer Edgars buttressed prior session gains as it jumped 14.82% to close at $380.0446 on the back of firming demand while, First Mutual Holdings climbed 11.80% to settle at $3,600.0000. Zimre Holdings was 6.61% higher at $182.1386 as it fastened the gainers list of the day.
Activity aggregates faltered in the session as volume traded declined 76.42% to see 424,900 shares trade while, turnover dropped 44.23% to $1.03bn. Volume drivers of the day were Delta, SeedCo and Edgars with respective contributions of 17.77%, 14.36% and 10.59%. In the value category Delta claimed 57.82% of the turnover traded, with SeedCo trailing behind with a 13.98% contribution. In the ETF category only three funds registered price movements, Morgan & Co Made In Zimbabwe ETF was 9.32% up at $17.5712. The Datvest MCS ETF and Old Mutual Top 10 ETF dropped 0.24% and 6.56% apiece. The Tigere REIT was 0.01% weaker at $604.95000 as a block trade of 6.76m units worth $4.09bn traded in the session. The Revitus REIT was stable at $560.0000 in the session as 900 units traded.