Daily Comment 12.07.17

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    The  stock market tumbled in today’s session as both indices took a knock. The industrials index  edged down by a marginal 0.04% to 197.85 maintaining its downward trend from the prior session. Meanwhile the resources index took a knock by peeling a 1.13% after trading stable at 69.98 for the past 5 sessions.

    A total of  23  counters exchanged hands in the session with 7 rising and 4 closing in the red whilst the remainder  closed stable. Masimba emerged as the top riser in the session with a gain of 27.45% to 5.20c  its 2 year high and it is one of the top risers since the beginning of the year with an upsurge of 205%.

    Mashonaland and African Sun went up by 17.86% and 11.80% to 6.60c and 1.80c respectively. Hippo and Econet which were among the top risers in the prior session maintained their upward trend as they gained 1.85% and 0.41% to close at 82.50c and 36.65c in that order.

    Dairibord which was the top riser in the prior session gained 0.14% to 7c, the counter has also gained 16.7% since the beginning of the year. Old Mutual capped the risers as it managed to  recoup all its losses in the prior session by adding a 0.01% to  close at 393c.

    Ariston lost 20% in today’s session to 0.80c trailed by the mining stock Bindura which weighed down the resources index after declining by 3.33% to 2.90c. Seedco maintained its downward trends as it was among the losers today with a dearth of 2.41% to 136.63c.

    Padenga was also among the losers as it went down by 0.37% to 27.15c

    Turnover sky-rocketed by 155.5% to $3.1 million from the prior session. Heavies Innscor, Delta, Seedco and Old Mutual contributed the most value. The total number of shares traded in today’s session came in at 20.4 million.

     

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