EFE Securities •

3 years ago •

Market Commentary

Market Comment - 05.08.2021

ZSE retreats ahead of Monetary Policy Statement… The ZSE retreated in Thursday’s session reversing its eleven-day rising streak as three of the benchmarks in our review closed pointing southwards, ahead of the Monetary Policy Statement. The ZSE All Share Index let go 1.76% to close at 6816.08pts while, the Industrials trimmed 1.78% to 22468.72pts. The Top Ten Index suffered a huge blow as it lost 3.33% to end at 3600.83pts while, the resources index marginally rose 0.02% to 6120.84pts. The major casualty of the day was conglomerate Innscor which dipped 14.93% to end at $91.2801, trailed by insurer FML that declined 8.94% to $28.0000 on scrappy 100 shares. Construction group Masimba went down 8.88% to $40.0000 while, fast foods Simbisa shed 8.73% to $40.3414. General Beltings capped the top five shakers of day on a 7.67% fall to $2.0192. Other notable losers of the day were Cassava (-4.97%), Delta (-2.73%) and OKZIM (-0.39%). Gainers of the day were led by banking group NMB which surged 20% to settle at $13.2000 reversing previous losses, albeit on paltry shares. TSL followed on a 11.63% upsurge to $48.0000 while, NTS added 7.03% to close at $9.0476. Banking group First Capital improved 5.02% to $3.2029 while, apparel retailer Truworths put on 4.99% to close at $2.3105. Activity aggregates faltered in today’s session as the volume of shares traded retreated 71.12% to 6m while, turnover dropped 37.85% to $183.57m. Top volume drivers of the day were NTS, Edgars and OKZIM with a combined contribution of 42.42% while, top value contributors were Delta (24%), Innscor (15.24%) and Masimba (11.21%). No trades were seen on the VFEX market. The Old Mutual ETF gained 5.43% to close at $2.0998 on 1.43m shares as it declared a dividend of $0.0173 per unit. Foreign purchases accounted for 4.68% of the day’s turnover while, disposals anchored 7.28% of the same.