EFE Securities •

3 years ago •

Market Commentary

Market Comment - 06.04.2021

Market record losses in post-holiday session… The ZSE opened the post-holiday session on a low note with the primary All Share Index easing 0.77% to 4454.78pts. The Old Industrials lost 0.74% to 14633.53pts while, the Top Ten Index was 1.11% lower at 2565.95pts. The Minings also slid back into the red as it succumbed 2.84% to end the session at 5166.37pts. Activity aggregates declined as volumes exchanged dropped 74.17% to 2.46m shares while, turnover went down 60.68% to $25.58m. OKZim, Innscor and Axia emerged the top value drivers of the day as the trio claimed a combined 76.58% of the total. Foreign purchases accounted for a mere 0.49% of the turnover while, disposals claimed 25.39% of the same. Risers and fallers were equally distributed at seventeen as three traded unchanged. Padenga led the losers list of the day on a 9.32% slide that took it back to $26.8644, having reached a low of $26.0000, where demand could be found. Apparel retailer Edgars lost 9.18% to $3.0960 with brick manufacturer Willdale easing 6.78% to $1.0000, reversing its prior session’s gains. Losses in Econet help drag the Index lower as the telecoms giant dropped 5.09% to close at $20.6657, on the back of selling pressure. Dairibord dropped 4.75% to close at $14.6935 and completed the top five losers list. Other loses were recorded in Cassava -1.39% and Innscor -2.07%. Leading the risers of the day was General Beltings which jumped 9.04% to $0.7330 with construction group Masimba trailing after adding 8.33% to $16.9000. Art Corporation was 2.91% firmer at $5.977 while, Hippo ticked up 2.53% to $150.0000. Other notable gains were seen in Meikles +2.20%, Delta +0.72%, OKZim +0.18% and Simbisa +0.05%.