Market Comment - 30.11.2021

ZSE retreats in month ending session... The ZSE capped the month of November in the red on weakening demand seen across the board. The All Share Index was 0.50% weaker at 10695.57pts while, the segregated Industrials eased 0.51% to 35367.445pts. The Blue-Chip Index lost a negligible 0.02% to 6714.23pts while, on the contrary, the Mining Index was the only gainer among its kind as it added 0.10% to close at 7193.11pts. Retailer OK Zimbabwe led the laggards of the day as it succumbed 8.57% to $23.0835, trailed by First Mutual Holdings which declined 7.69% to $21.0000. Simbisa shed 5.04% to $80.0718 while, apparel retailer Edgars was down 4.25% to $5.2551. Hotelier African Sun capped the top five losers of the day on a 4.01% drop to $6.7190. A total of thirty-one counters registered price movements, distributed into nine gainers and twenty-two losers to leave the market with a wide negative breadth. Agricultural concern Ariston headlined the winners’ list of the day on a 8.57% surge to close at $3.9101, trailed by conglomerate Meikles that jumped 5.49% to end at $158.2680. Telecoms giant Econet advanced 3.82% to $64.8247 while, engineering group Zimplow added 0.96% to $24.8553. Brick manufacturer Willdale was 0.47% firmer at $2.8773 as it capped the top five risers of the day. Activity aggregates improved as volumes traded ballooned 327.22% to see 16.42m shares exchanging hands while, turnover enhanced 27.01% to $339.26m. First Capital bank, Zimre Holdings and First Mutual Holdings Limited were the volume leaders of the day, as the trio claimed a combined 79.34% of the aggregate. Value outturn was anchored by Delta (22.02%), First Mutual holdings (14.51%), National Foods (9.07%), Simbisa(7.91%) and First Capital (7.44%). The Old Mutual ETF was 1.27% weaker at $4.9573, as 16,960 units exchanged hands. Elsewhere, on the rarely traded exchange VFEX, SeedCo International gained 0.18% to close at US$0.2805, post the release of its HY22 results in which the group’s revenue increased by 27.3% to US$35.5m.