EFE Securities •
2 years ago •
Market Commentary
Market Comment - 03.08.2021
Positive trend continues… The positive sentiment continued the ZSE as three of the indices which we track closed in the black spurred mainly by heavy and medium cap counters. The primary All Share Index added 0.37% to end at 6871.46pts while, the old Industrials were 0.47% firmer at 22652.71pts. The ZSE Top 10 was 0.89% stronger as it settled at 3690.76pts while, the Mining Index let go of 6.96% to settle at 6139.20pts, weighed down by waning demand seen nickel miner Bindura. Insurer FML led the gainers of the day post adding 10.59% to settle at $30.9261, trailed by seed manufacturer SeedCo on a 6.77% uplift to settle at $67.0971. Getbucks advanced 6.41% to $7.3635 while, Delta jumped 5.12% to close at a vwap of $90.4459, having traded an intra-day high of $92.0000. Nampak completed the top five risers list on a 3.83% rise that took the packaging group to $13.5000, albeit on scrappy shares. Banking group NMB led the laggards of the day as it closed 20% softer to $13.2001 trailed by, National Tyre Services which shed 19.07% to trade at $8.4535. Mashonaland Holdings slumped 13.97% to $3.0085 while, Bindura shed 10.30% to end the session at $5.0231. General beltings declined 10.18% to $2.2000, thus capping the top five fallers set. A total of twenty-three stocks weighed on the market against thirteen gainers as four remained stable, to see the market close with a negative breadth of ten. Total turnover increased by 410.82% to close the day at $172.99m. Similarly, volume traded rose 307.53% to 10.55m shares as both aggregates were propelled by NMB which traded circa $6m shares. The banking group contributed 56.88% of the volumes total and 45.78% of the value outturn. Other notable value contributors were seen in Innscor (15%) and SeedCo (14.65%). The Old Mutual ETF improved 4.71% to trade at $2.0000. Foreign purchases stood at $25.53m while, sales were $18.33m to see the market close with net funds outflow position. No trades were registered in Padenga and SeedCo International on the VFEX.