EFE Securities •
2 years ago •
Market Commentary
Market Comment - 02.09.2021
ZSE rebounds in Thursday’s session albeit thin volumes… The ZSE rebounded in the second trading day of the month of September as all the four benchmark indices in our review closed pointing northwards. The mainstream All Share Index put on 0.07% to close at 6593.24pts while, the Industrial Index added 0.06% to 21722.354pts. The ZSE Top Ten Index improved 0.58% to 3561.80pts buoyed by recovering heavies. The Mining Index rose 0.97% to end at 6179.93pts spurred by Bindura that went up 1.49% to $5.0744. The market closed with a negative breadth of two as sixteen counters lost ground against fourteen risers. ZECO topped the gainers’ list for the second consecutive session after surging 100% to settle at $0.0012. Trailing was conglomerate Innscor that garnered 11.49% to $100.9667 while, banking group NMB followed thereafter on a 7.69% jump to $15.0766. Agriculture concern Ariston grew 3.03% to trade at $3.1000 as giant retailer OKZIM completed the top five winners of the day on a 2.73% gain to settle at $15.8589. NTS led the laggards of the day as the tyre services group succumbed 16.67% to $9.0000 while, Mash tripped 10.71% to close at $2.6103. Dairiboard was on the third position on a 8.65% loss to end pegged at $31.9697 as brick manufacturer Willdale held the fourth place after shedding 8.50% to $2.9068. Fast foods group Simbisa reversed previous day’s gains having faltered 4.46% to $38.0671. Activity aggregates were depressed in the session as reflected in volumes that trimmed 23.95% to see 2.75m shares exchange hands while, turnover dipped 63.11% to $57.42m. Volume drivers of the day were Bindura, Delta and Star Africa that claimed a combined 51.97%. Value outturn was anchored by Delta and CBZ with respective contributions of 48.52% and 17.69% to the aggregate. Old Mutual Exchange Traded Fund gained a negligible 0.004% to close at $2.5301 with no trades on the VFEX in Padenga and SeedCo International. Foreigners were net sellers in the session as outflows stood at $0.50m while, inflows amounted to $0.49m.