EFE Securities •

2 years ago •

Market Commentary

Market Comment - 02.08.2021

ZSE opens new month in marginal gains… The ZSE commenced the month of August in marginal gains as heavy and mid cap counters managed to keep the market afloat. The mainstream All Share Index went up 0.41% to 22547.10ts while, the Industrials put on 0.42% to 22547.10pts. The blue chips Index went up 0.50% to settle at 3658.09pts while, the resources index let go 0.35% to end at 6598.22pts. The top gainer of the day was Getbucks that garnered 19.83% to close at $6.9200 followed by, ART which improved 4.88% to end pegged at $8.7000. Insurer FML rose 3.57% to close at a vwap of $27.9649 while, General Beltings enhanced 2.95% to $2.4494. Tourism group RTG completed the top five winners of the day on a 2.19% lift to $5.1095. Other notable gainers were OKZIM (+1.42%), Delta (+1.02%), Cassava (+0.85%), Innscor (+0.79%) and Econet (0.12%). The losers pack was led by SeedCo Limited which dropped 8.92%to settle at vwap of $62.8444. Trailing was Medtech with a 4.56% fall to $0.2996 while, cement manufacturer Lafarge shed 4.18% to $91.0278. Spirits and wines manufacturer AFDIS slipped 2.50% to $78.0000 as logistics company Unifreight capped the shakers of the day on a 2.18% drop to $29.1500. The market closed with a positive breadth of eleven as twenty-two counters gained against eleven which faltered. Activity aggregates weakened in Monday’s session as volume of shares traded dipped 67.64% to see 2.59m shares exchanging hands while, turnover succumbed 75.04% to $33.87m. Top volume leaders of the day were Medtech (33.20%), Star Africa (25.78%) and Axia (11.08%). Delta and Axia were the top traded stocks by value with respective contributions of 39.04% and 21.98%. The Old Mutual ETF lost 4.47% to close at $1.9100 as 19,200 shares exchanged hands. Cassava released its Q1 trading update reporting that the group’s inflation adjusted revenues for the three months ended 31 May 2021 more than doubled, compared to the same period last year.