EFE Securities •

3 years ago •

Market Commentary

Market Comment - 05.10.2021

Selected heavies lifts the market... The market extended its gains further in Tuesday’s session with the blue chip index putting on 1.46% to 5194.79pts while, the segregated industrials rose 0.58% to 29410.33pts. The mainstream All Share Index increased 0.58% to 8900.41pts while, the resources index added a negligible of 0.04% to close at 6449.32pts. Headlining the gainers’ list was National Foods which surged 11.11% to $1000.0000, trailed by agri-equipment supplier Zimplow that garnered 5.36% to $20.0195 as it recovered from prior session losses. Econet closed the day 3% higher at $55.0138 while, Axia capped the top five winners of the day as it ticked up 1.92% to $25.7340. First Mutual Holdings led the shakers of the day as it trimmed 13.79% to end at $25.0010 while, packaging group Nampak shed 8.24% to settle at $11.7391. ART was 7.69% softer at $9.0000 while, banking group NMB was 6% weaker at $14.1000. General Beltings sealed the top five laggards of the day after declining 5.78% to $2.1013. Fallers of the day outweighed the risers by a count of seven to register a negative market breadth. Activity aggregates improved as volumes of shares traded advanced by 32.57% to 4.75m while, turnover jumped 82.23% to $306.35m. Volume outturn was anchored by Delta, Econet, Innscor, SeedCo and OK Zimbabwe with respective contributions of 18.37%, 13.79%, 12.57%, 10.84% and 8.78% to the outturn. Delta and Innscor led the value contributors with a combined contribution 58.97%. Elsewhere, on the VFEX Padenga inched up 8.30% to US$0.2805 as 2000 shares exchanged hands while, Seedco International recorded no trades. The Old Mutual ETF continued to buttress yesterday’s gains as it jumped 13.31% to $4.0940, with 36,755units exchanging hands.