EFE Securities •

3 years ago •

Market Commentary

Market Comment - 05.05.2021

Market scratches gains in mid-week session… The market closed mid-week session in slight gains with the primary All Share Index ticking up 0.63% to 4670.49pts while, the old Industrials added 0.64% to $15343.90pts. The ZSE Top Ten rose 0.84% to 2688.99pts and the Minings were the only Index to lose ground after easing 0.06% to 5374.52pts. Leading the risers of the day was Willdale which ticked up 8.08% to $1.0812 on scrappy 6,900 shares. Agricultural concern Ariston added a further 5% to $2.1000, with banking group First capital adding 4.44% to $2.5088. Conglomerate Meikles was 2.94% firmer at $61.7102 while, Mash added 2.82% to $1.8871 and completed the top five risers set. Twenty counters traded in the positive against fourteen decliners and five remained unchanged, leaving the market with a positive breadth. Zimpapers reversed its prior sessions’ gains on a 6.98% loss that took it back to $1.6000 on waning demand. FMP was 2.78% down to $5.8333 while, hotelier African Sun lost 2.77% to $2.2270. RTG dropped 2.28% to end at $1.9000. Activity aggregates declined for the second consecutive session with volumes exchanged slumping 46.90%, yielding a value outturn of $50.84m which was 24.80% down on yesterday. Cassava and Innscor emerged the top value drivers of the day claiming 15.44% and 14.55% of the total respectively. Bindura and Cassava propelled the volume outturn on a combined 41.09% of the outturn. Other notable trades were in Hippo and Econet which contributed 13.06% and 11.37% respectively. Foreign inflows accounted for 13.25% of the turnover while, outflows added 12.60% of the same.