EFE Securities •

3 years ago •

Market Commentary

Market Comment - 06.07.2021

Market closes mixed as Padenga exits … ZSE Indices were mixed in Tuesday session as Padenga took its bow out of the ZSE as it relists on the VFX on Monday the 12th of July. The primary All Share Index went up a marginal 0.08% to 6,138.59pts while, the Industrial Index was stable at 20,191.77pts just moving up 0.66pts. The Top Ten Index let go 0.12% to 3,140.66pts weighed down by heavies Innscor, Cassava and Delta that dragged the index further into the red after plunging 1.08%,0.76% and 0.11% in that order. The Mining Index improved 5.54% to 6,467.48pts on the back of trades only seen in BNC which went up 8.22% higher to $5.6180. Volumes ticked up 169.60% to see 8.25m shares exchange hands yielding a total turnover of $219.49m which was a whopping 405.34% up from prior session. Padenga and Delta contributed a combined 68.46% of the value outturn while, Padenga again and MedTech claimed a collective 48.14% of shares traded today. The top performer on the gainers table was Turnall which added 20% to end at $4.8000, trailed by Edgars which put on 12.56% to close at $4.5000. On the third and fourth place was Star Africa and BNC as the former gained 11.36% to settle at $2.2621. Completing the risers list was Padenga which improved 8.22% to $30.8761 as it bids farewell to the bourse. The top five fallers for the day were hoteliers African Sun which lost 14.33% to $5.1172, NMB which shed 7.48% to $12.9522, General Beltings that let go 4.08% to $2.3997, ART which was down 2.85% at $7.7722 and FCA that slumped 2.65% to $3.7185. The risers were seventeen against fourteen fallers, leaving the market with a positive market breath of three. Foreigners sold $30.30m worth of shares and bought $1.80m worth resulting in a net cash out flow position.