EFE Securities •

3 years ago •

Market Commentary

Market Comment - 04.10.2021

ZSE gains extend into the new week... The market continued on its positive trajectory as heavies National Foods and CBZ lifted the market. The four benchmark indices in our review closed in the black with the Blue Chips Index leading on a 2.44% gain to 5119.95pts. The Industrials extended 1.50% to 29240.34pts while, the ZSE All Share Index grew 1.49% to end at 8849.44pts. The Mining Index went up 0.22% to 6446.70pts as Bindura added 0.31% to trade at $5.6796 with no trades in RioZim post the release of its HY21 results in which a loss after tax was reported. Gainers of the day were led by Turnall that jumped 14.94% to $5.0000 trailed by National Foods that surged 12.61% to $900.0000. Banking group CBZ garnered 11.20% to close at $91.7523 while, retailer OKZIM put on 4.80% to $19.0867. TSL rose 3.76% to $64.0000 capping the top five risers of the day. First capital was the worst faller of the day on a 10.32% drop to $3.2945 as Proplastics followed on a 6.67% falter to $28.0000. Axia let go 6.58% to $25.2492 as NMB shed 6.25% to close at $15.0000. Zimplow completed the top five fallers’ list on a 4.92% loss to $19.0009. The market recorded a positive breadth of three with nineteen rising stocks against sixteen fallers. Activity aggregates were mixed in the session as volumes slipped 5% to 3.58m shares while, value outturn increased by 31.76% to $168.11m. Volume drivers of the day were OKZIM and FBC with respective contributions of 28.31% and 18.61% . Value drivers of the day were BAT, SeedCO Limited, FBC, OKZIM and Meikles that accounted for a combined 63.68% of aggregate. The Old Mutual Exchange Traded Fund advanced 15.28% to $3.6132 having traded a day an intraday high of $3.7600, no trades were recorded on the VFEX.