EFE Securities •

3 years ago •

Market Commentary

Market Comment - 01.10.2021

ZSE rebounds in Friday’s session... The ZSE reversed previous day’s losses to commence the new month in the black. The mainstream All Share Index gained 1.62% to 8719.53pts while, the Industrials put on 1.57% to close at 28807.37pts. The ZSE Top Ten Index went up 2.90% to 4998.20pts as the Mining Index recovered 6.95% to settle at 6432.53pts. Hippo topped the risers’ list on an 18.96% surge to close at a year high of $270.0000. National Foods garnered 17.42% to end pegged at a vwap of $799.2203 post the release of its FY21 results in which the group reported a PAT of $72.4m and declared a final dividend of ZWL$2.9649 per share. Hotelier African Sun jumped 11.39% to $10.9048 as nickel miner Bindura rose 10.19% to $5.6796. Banking group NMB capped the winners of the day on a 6.67% lift to $16.0000. Leading the laggards of the day was retailer OKZIM which dipped 10.84% to $18.2118, followed by Axia which trimmed 5.69% to $27.0272. Insurer FML shed 3.50% to $28.9017 while, Star Africa let go 3.37% to $1.6459. Medtech completed the top five shakers of the day on a 2.98% loss to $0.2767. Thirty-eight counters were active in the session distributed into nineteen gainers, fifteen decliners and four that traded unchanged to register a positive breadth of four. Activity aggregates were depressed in Friday’s session as reflected in volumes traded which dipped 54.25% to 8.24m while, turnover retreated 59.99% to $127.59m. Bindura and Econet were the top volume drivers of the day with a combined contribution of 54.45%. Value drivers of the day were Delta (26.54%), Econet (18.15%), Innscor (12.57%) and Simbisa (11.94%). No trades were recorded on the VFEX in SeedCo International and Padenga. The Old Mutual Exchange traded fund grew 0.46% to $3.1344 having traded an intraday high of $3.1500. Heavy cap counter, Cassava Smartech was suspended from trading following the group’s failure to release year end results.