EFE Securities •
3 years ago •
Market Commentary
Market Comment - 07.09.2021
ZSE bounces back in Tuesday’s session… The ZSE recovered in Tuesday’s session reversing the previous day’s losses as all indices we review closed in the black. The Mining Index was the top gainer amongst the indices as it closed the day 3.77% firmer at 6516.83pts while, the benchmark All share inched 0.67% up to 6645.03pts. The Blue chips Index advanced 1.40% to close at 3557.90pts as the old Industrials rose 0.63% to 21879.74pts. Cassava led the gainers of the day as it jumped 14.03% to $18.8571 after it released a positive Q2 trading update in which the management advised of an increase in revenue by 70% from previous comparable period last year while, their FY21 financials will be published on or before 30 September. Trailing was Bindura nickel company which advanced 5.73% to $5.4979 while, pharmaceutical distributors Medtech edged up 5.54% to $0.2552. Dairy manufacturer Dairiboard reinforced yesterday’s gains as it advanced 5.50% to $41.4186. Zimplow capped the top five gainers list on a 5.46% rise to end the day at $15.9338. Insurance company Fidelity led the laggards of the day as it plunged 20% to settle at $8.0000 while, bankers First Capital retreated 12.58% to $3.0004. Turnall declined 11.18% to $4.1566 while, insurance company Zimre was 8.83% softer at $3.6375. Tyre Manufacturer National Tyre Services capped the top five losers as it shed 8.62% to close at $8.0000. The market recorded a negative market breadth of one as seventeen counters declined against sixteen gainers with five sailing stable. Activity aggregates improved as volumes traded ballooned 197.47% to 5.15m shares while, turnover surged 297.62% to $110.70m. First Capital was the top volume leader for the day as it traded 1.97m which accounted for 38.29% of the aggregate, trailed by Art and Delta which contributed 14.13% and 8.66% apiece. Anchoring the value outturn for the day were beverages group Delta and conglomerate Innscor which claimed 33.61% and 20.91% respectively. Elsewhere, on the Victoria Falls Exchange 500 Padenga shares traded at US $0.2160 which is 20% up from the last traded price of US 0.1800. Foreigners were net sellers in the session with inflows amounting to $7,500.00 while, outflows stood at $675,619.90.