Market Comment - 23.12.2021

ZSE in gains on the backdrop of CBZ negotiated trade ... The ZSE registered gains in Thursday’s trades overturning a streak of ten losses. The primary All Share Index firmed up 0.79% to finish at 98221pts while, the Industrial Index was 0.80% stronger at 32429. 98pts.The Top Ten Index was the top gainers amongst the three indices under our review as it rose 1.42% to 6085.60pts.Fidelity Life Assurance led the risers of the day on a 18.18% surge to $13.000 as banking group First Capital went up 15.60% to $3.6000. Medtech Class B increased 10.29% to $25.000 while, Meikles added a 8.69% to $125.0000. Hotelier Rainbow Tourism Group capped the top five winners list on a 7.73% uplift to $7.4811. Medtech Holdings led the decliners of the day as it dropped 20.00% to $41.6000 trailed by clothing retailer Edgars which slid 11.04% to $4.1000. Zimre Holdings and First Mutual Holdings retreated 10.48% and 8.97% to settle at $3.4006 and $20.0000 respectively. Agricultural concern Ariston completed the top five fallers on a 8.66% slip to $3.2012. Activity aggregates improved as volume of shares traded rose by 44.49% to 21.2m shares while, turnover went up by 21.35% to $1.36bn. Thirty-seven counters traded today distributed as seventeen gainers, sixteen fallers and four that sailed stable. Bankers CBZ dominated both the value and volume categories contributing 90% to the former and 83% of the latter, the stake that traded constitutes 3.35 % of the bank’s market cap. The Old Mutual ETF traded 17.3% lower than the previous session at $4.2668 as 25,494 units exchanged hands. Elsewhere, no trades were recorded on the VFEX that closed with buyers in all four counters. Foreign buys jumped by 11653.21% to $487.08million against sales of $2.57m to leave the market with a net funds inflow.