EFE Securities •

3 years ago •

Market Commentary

Market Comment -01.02.2021

Market extends gains in month-opener… The ZSE opened the month in the black with the All-Share Index putting on 0.74% to 3627.50pts as the Industrials added 0.75% to $12145.59pts. Slight gains seen in selected heavies pushing the Top Ten Index to 2264.03pts after a 1.15% rise. The less active Minings was 0.05% down to 4354.49pts on falling Bindura. Leading the market gains was SeedCo Limited which rebounded 15.92% to $30.0000 with Proplastics surging 15% as it ended at $17.2500. Nampak was 10% up at $3.3550 while, CAFCA limited recovered 7.48% to $69.4000. Zimplow was 7.25% firmer at $7.4000. Other gains were in Innscor, Delta and Meikles. The risers and falser spectrum was equally distributed at sixteen, as thirty-seven counters were active in the session. First Mutual Holdings Limited topped the laggards of the day after slumping 12.41% to close at $13.0064, where demand could be found. Ariston was 11.71% down to $1.3520 with retailer OKZIM losing 8.12% to $14.3557 on waning demand. TSL was seen on the fallers zone having slid 5.96% to $43.2500, having reached an intra-day low of $37.0000. African Sun was 5.76% down at $1.3193 to complete the top five losers set. Activity aggregates declined in the month opening session to see all the measures closing in the red. Volumes exchanged dropped 82.30%, yielding a value outturn of $20.35m which was 95.80% down from prior session. Medtech anchored the volume aggregate while, FML claimed 42.66% of the value outturn.