EFE Securities •

3 years ago •

Market Commentary

Market Comment - 07.07.2021

ZSE closed in the red in mid-week session… The ZSE accumulated losses in the mid-week session to see the mainstream All Share Index shedding 0.78% to settle at 6090.61pts while, the Industrials dipped 0.71% to end at 20049.38pts. The ZSE top Ten Index was also a casualty after dropping 0.30% to settle lower at 3131.13pts. The resources Index reversed yesterday’s gains as it plunged 5.93% to 6083.93 pts responding to slump in BNC. Activity aggregates were also down in the session with volumes exchanged slashed by 44.67%, yielding a value outturn of $68.3m which was 68.85% lower than the prior session. Delta was the most sought-after stock as it claimed 26.30% of the total value with Innscor , Simbisa and Natfoods adding 12.44%,11.50 % ,11.50% to the day’s value outturn, respectively. Leading the laggards pack was brick making company Willdale which declined 12.51% to $3.6085 and closed well offered at $3.5900 while, Getbucks trailed on an 9.17% drop that took its price to $9.9688. BNC and banking group ZB were among the losers after easing 8.58% and 7.79% to close at $5.1360 and $71.0000 in that respective order. Other losses were in heavies Delta which was down 0.63% to $68.4584, Innscor that shed 1.12% to $83.0452 and Simbisa that retreated 1.89% to close at $35.0395 on waning demand. NMB topped the gainers of the day on an 8.28% surge to trade at $14.0250 while, Dairibord was 5.10% up at $33.8407. Zimpapers added 4.29% to $3.1696 with Masimba ticking up 2.52% to settle at $39.9885. Apparels Group Edgars added 2.06% to $4.5929 and completed the top five winners set. Overall, thirty six counters were active in the session, with fourteen gainers against twenty losers to register a negative market breadth of six .