Market Comment - 28.10.2021

Market falters in the penultimate session... The market reversed prior session’s marginal gains as the All Share Index suffered a 1.13% knock to end at 11329.48pts while, the Industrial Index was 1.12% weaker at 37506.67pts. Selected heavies dragged the Top Ten Index as it slipped 0.95% to 7104.99pts while, the Mining Index lost 1.97% to 6689.17pts. CFI Holdings emerged the biggest gainer of the day with a whooping 19.89% surge to $49.3000, followed by Zimplow Holdings which inched up 2.78% to $20.1630. The duo of Rainbow and Meikles added 2.51% and 2.42% to finish at $5.8429 and $205.2916 respectively. Axia completed the top five risers of the day on a 2.23% uplift to $39.9575. Leading the fallers of the day was apparel retailer Truworths that dropped 16.20% to $2.5100, trailed by Mashonaland Holdings that tumbled 15.66% to $2.9646. Medtech traded at $0.1706 after shedding 14.70% as insurer First Mutual Holdings went down 14.39% to $23.1149. Packaging group Nampak capped the decliners of the day on a 7.65% loss to $12.0000. The market closed with a negative breath as fallers outnumbered gainers by a count of twelve. Activity aggregates were mixed as volume of shares traded trimmed 8.40% to 5m while, turnover went up 24.86% to close at $219.96m. Foreign purchases amounted to $12.15m as sales stood at $37.93m to record a net funds outflow position of $25.78m. The top volume drivers of the day were FML and ZHL which contributed a combined 47.84% to the aggregate. The top value contributors of the day were National Foods (15.57%), First Mutual Limited (15.49%), Econet (12.80%), Innscor (12.53%) and Delta (10.12%). The Old Mutual ETF went down 0.47% to trade at $4.5000 as 16,769 units traded. Elsewhere, Padenga slipped 11.36% to end pegged at $0.1950 with no trades recorded in SeedCo International.