EFE Securities •

3 years ago •

Company Papers

Market Comment - 09.06.2021

Winning streak continues gradually… The market’s northward trajectory continued in the mid midweek session to see the mainstream All Share Index ticking up 1.23% to 5767.58pts with the Industrials adding a further 1.33% to 18978.77pts. Not to be outdone was the Top Ten Index which rose 1.08% to 3147.55pts while, the Minings were the only Index to lose ground having slumped 5.45% to $5966.06 pts. Forty-three counters constituted the risers and fallers spectrum with risers dominating at a count of twenty-four against fifteen losers to set a negative breadth of nine. Leading the risers list of the day was Zimplow which topped on a 19.66% surge that took it to $8.1606. Hotelier RTG followed rebounding 18.11% to $2.3032, albeit closing well offered. Getbucks was 17.42% higher at $6.0000 on sustained retail demand while, Star Africa reached an all-time high of $1.0467 having firmed up 16.68%. TSL was 10.97% firmer at $44.3860 and completed the top five set. Other gains were witnessed in Hippo +9.50%, Natfoods +1.88%, Eco+1.70%, Padenga+1.26%, Nat foods 1.88%, Cassava+0.09% and Delta +0.20%. Headlining the market losers were loses in RioZim which slipped 14.97% and settled at $25.0000 with FML following on a 6.25% drop that saw it close at $30.0000. General Beltings retreated 4.55% to close at $0.7559 as construction group Masimba dropped 2.40% and traded at $35.2973 as circa 255,000 shares exchanged hands. Banking group FBC lost 1.71% to $28.0728 on waning demand. Activity aggregates improved in the session as volumes exchanged enhanced 35.60% to 4.94m shares yielding a value outturn of $128.61m which was 66.71% up on prior session. Delta and Econet emerged as the top value drivers of the day as they topped 31.10% and 23.81% respectively. Foreign sales accounted for 53.91% of the day’s turnover while, inflows added 4.45% of the same.