EFE Securities •

2 years ago •

Market Commentary

Market Comment - 08.09.2021

ZSE firms in midweek session… The ZSE maintained gains in the mid-week session as all four indices in our review closed in the positive. The All-Share Index gained 1.02% to 6712.96pts while, the Industrial Index inched up 0.95% to finish at 22087.71pts. The Top Ten Index ended at 3572.39pts on a 0.41% rise while, the Minings added 6.41% to 6923.42pts. Hotelier African Sun was the day’s top gainer as it soared 19.37% to $9.5494 while, mining house Riozim surged 17.86% to $3.3000 on firming demand. First Mutual Property garnered 14.07% to $15.0000 as Axia Corporation was 12% stronger at $22.5000. Brick manufacturer Willdale went up 11.58% to end pegged at $3.3523 as it completed the top five gainers’ category. Headlining the fallers’ packet was Getbucks which let go 6.54% and closed at $7.6167. Medtech and Ariston Holdings eased 3.92% and 2.99% to close at $0.2452 and $3.0046 respectively. Conglomerate Meikles shed 2.37% to settle at $91.4649 as Star Africa closed at $1.8672 on a 1.10% loss. The market registered a positive market breadth of seven as eighteen counters gained against eleven that tumbled while, four remained unchanged. Activity aggregates were mixed as volumes traded advanced 9.71% to 5.65m shares while, turnover slipped 5.24% to $104.96m. Bindura, Econet, Delta and OK Zimbabwe emerged as the most liquid stocks traded for the day as the quartet dominated the value and volume aggregates. Elsewhere, on the VFEX 500 Padenga shares traded at US$0.2590 which was a 19.91% jump from prior session while, SeedCo International traded 229,362 shares $0.2400, which is the highest volume and value since its debut. Local purchases accounted for 99.81% of the day’s turnover while, sales claimed 72.35% of the same. The Old Mutual Exchange Traded Fund grew 3.76% to close at $2.4441 as 10,608 units traded, yielding a value of $25,927.05.