EFE Securities •

3 years ago •

Market Commentary

Market Comment - 01.06.2021

The ZSE rose further in the month opener as three of the indices in our review closed in the black, albeit on scratchy gains. The primary All Share Index added 0.17% to 5437.71pts on mixed trades seen across the board with the Industrials rising an additional 0.19%. The Top Ten Index extended 0.35% to 3015.65pts while, The Minings slumped 0.71% to 6772.28pts. Activity aggregates improved in the session as reflected in volumes exchanged which ballooned 205.65% to 16.26m yielding a value outturn of $205.73m which was 73.56% up from prior session. Delta, Econet and Innscor emerged the top value contributors of the day as the trio claimed 23.62%, 10.70% and 9.67% respectively. Medtech as usual anchored the volumes aggregates on 31.78% of the total. A net foreign outflow position was registered as purchases of $0.45m was recorded against outflows of $10.06m. Banking group NMB led the risers of the day on a 8.33% increase to $13.0000 while, Simbisa followed after rebounding 7.71% to close at $38.0954. Getbucks was 6.72% higher at $3.16000 with cable manufactures CAFCA adding 4.76% to $13.2000. Insurer FML rebounded 3.98% to $26.1129, closing firmly bid at that level. On the losers’ side was Afdis which merged the sessions’ worst performer on a 12.50% slide that took it to $56.0000. Meikles rolled back to $$64.6707, where demand could be found, having lost $6.27%. Medtech was 5.88% lower at $16.0000 with Proplastics dropping 5.80% to $26.8478. Axia completed the top five losers set on a 4.86% slide that took it to $21.9301 on selling pressure. Other significant losses were in Cassava which dropped 1.36%, OKZIM that Innscor which shed 0.12%, OKZIM that declined and Natfoods which lost a negligible 0.02%.