EFE Securities •

3 years ago •

Market Commentary

Market Comment - 01.03.2021

Market stays in the positive … The market remained in the positive in the month opening session as demand continued to firm in selected stocks across the board. The primary All Share Index ticked up by a further 3.37% to 4294.45pts with the segregated industrials adding 3.44% to close at 14306.12pts. The Top Ten Capitalised Index was the best performer amongst the indices as it surged 3.52% to 2556.25pts while, the less active Minings was 0.37% higher at 6708.45pts. Activity aggregates declined in month opening session with volumes exchanged dropping 66.81% to 6.51m shares, yielding a value outturn of $104.30m which was a 45.53% down from prior session. Innscor, OKZIM, Delta emerged the top value drivers after claiming a combined 56.87% of the total. Foreign participation remained depressed as inflows accounted for 19.47% of the day’s turnover while, outflows claimed 44.96% of the same. Twenty-six counters rose while, four sailed stable as a total of forty counters exchanged hands down from thirty-eight from previous session. Turnall emerged the top riser of the day after surging 20% to $1.8000, albeit on scrappy shares. Unifreight followed thereafter, strengthening its previous gains adding 19.90% to $9.5200. General Beltings was 19.84% higher at $0.3866 with Zimpapers group taking gains to the third consecutive session, ticking up a further 19.62% to $1.3400. Fidelity edged higher to $3.5500 after a 18.33% rise and completed the top five risers. Other notable gains in heavies were seen in Cassava (+8.73), Delta (+8.26%), CBZ (+5.33%) and Econet (+3.84%). FMP led the laggards of the day on a 12.17% slide that took it to $5.0061 while, Hippo Valley trailed after easing 1.26% to close at $120.3892. ZHL was 1.18% down at $2.0348 while, retailer OKZIM rolled back its previous gains on a 1.12% loss to see it close at $16. 9739. Banking group ZB lost 0.63% to trade at $39.7500, where demand could be found.