EFE Securities •

3 years ago •

Market Commentary

Market Comment - 01.04.2021

ZSE records marginal gains in month opener… The market recorded gains in month opening session, spurred by mid-tier and small caps. The All-Share Index scratched a negligible 0.02% to 4489.47pts while, the segregated Industrial Index added 0.01% to settle at 14742.24pts. The Top Ten Index extended losses as it dropped 0.60% to 2594.75pts while, the Mining Index rebounded 0.04% to 5317.58pts. Activity aggregates reflected a mixed outcome as volumes exchanged rose 29.33% to 9.54m shares while, turnover went down 48.17% to $65.05m. Innscor, Delta and Simbisa emerged the top value drivers of the day as the trio claimed a combined 58.81% of the total. Foreign purchases accounted for a mere 0.33% of the turnover while, disposals claimed 15.24% of the same. A negative market breadth was registered as twenty-two counters traded in the negative trajectory against fifteen that stand firm while, four sailed stable. Mining house RioZim led the losers list on a 14.54% drop that took it back to $20.4000, where demand could be found. Art lost 10.17% to $5.8087 with banking group First Capital easing 6.97% to $2.0369, reversing yesterday’s gains. Econet dragged the Index lower as the telecoms giant dropped 4.50% to close at $21.7736, on the back of selling pressure. Fidelity rolled back its prior session’s gains after succumbing 4.31% to $5.3586 and completed the top five losers list. Leading the risers of the day was packaging group Nampak which jumped 13.05% to $8.4900 with hotelier RTG trailing after adding 10.52% to $2.1000. Banking group NMB was 8.41% firmer at $9.0064, FML added 7.82% to $21.5667 while, nickel miner Bindura ticked up 7.81% to $4.7245, albeit on weak demand.