The tensions in the market that has been simmering since end of January coupled with limited Or reduction of broker credit , profit taking amidst domestic uncertainties ,power crisis , possible fuel shortages as indicated by a Minister and last but least the uncertainty in global situation in Ukraine all came together to trigger a collapse in the market where it led to the S&P SL20 index dropped 5% in the afternoon session and led to the market being automatically halted for 30 minutes to calm the situation. The Turnover was a modest 4.2 billion and the ASPI closed down 542.67 or 4.47% and the S&P down 207.88 or 5.02% . The market is expected to remain volatile this whole week with slight improvement towards Friday. However the overall uptrend will continue on the medium term with fantastic results and better valuations on selected counters that will hedge against devaluation inflation and dollar shortages experienced in the local economy.
