Market Comment - 22.11.2021

Losses persist into the new week... Losses on the bourse persisted into the new week as all four indices that we review closed pointing southwards. The primary All Share Index let go 1.09% to end lower at 11518.12pts while, the Industrials went down 1.08% to 38140.53pts. The Blue chips Index came off 1.87% to 7299.79pts as the Resources index slid 3.02% to 6593.80pts. National Foods headlined the fallers’ pack on a 6.66% trim to $1,750.0000 reversing previous session gains. Bindura trailed on a 5.16% loss to close at 4.7317 as insurer FML slipped 4.17% to trade at $23.0000. CFI retreated 3.92% to settle at $72.0600 while, General Belting capped the top five fallers’ pack after shedding 3.59% to $2.0045. Gains were registered in Medtech that ballooned 127.28% to $0.5682 following the share consolidation and reclassification of shares into Class A and B. Agriculture concern Ariston put on 15.54% to $3.9515 while, life assurer Fidelity advanced 12.50% to end pegged at $9.0000. TSL added 7.69% to $70.0000, as retailer OKZIM capped the top five winners of the day on a 5.85% rise to $28.8379. The market closed with a negative breadth of fourteen as twenty-five counters faltered against eleven that gained. Activity aggregates were depressed in Monday’s session as volumes dipped 95.92% to 1.22m shares while, turnover dropped 87.66% to $68.33m. National Foods claimed a huge chunk representing 69% of the value outturn as other counters shared the remainder of 31%. Volume drivers of the day were Star Africa and Bindura with respective contributions of 32.99% and 13.12% to the total. The Old Mutual ETF gained 3.92% to $5.2892 as 13,339units worth $70,553.00 exchanged hands. No trades were recorded on the VFEX.