EFE Securities •

3 years ago •

Market Commentary

Market Comment - 11.05.2021

Market maintains a positive trajectory… The ZSE maintained a positive path in Tuesday’s session, despite depressed activity aggregates. The turnover went down 10.13% from prior session as volumes exchanged enhanced 138.83% to 9.41m shares. Econet emerged the top value driver claiming 44.27% while, Medtech propelled the volumes on a 56.88% contribution. Other notable trades were in Delta and OKZIM which added 27.28% and 13% to the value totals, respectively. All the indices registered new highs, with the primary All Share Index ticking up a further 2.05% to 4962.25pts while, the segregated Industrials added 2.04% to 16310.29pts. The Top Ten was 2.16% firmer at 2853.25pts while, the resources Index was 2.87% up to settle at 5538.93pts. Spirit manufacturers AFDIS were the session’s best performer after charging 20% to end at $60.0000 with brick manufacturer Willdale stretching a further 16.25% to $1.3778. Banking group Getbucks was 14.58% higher at $0.5500 as Proplastics rebounded 11.91% to $23.5000. Property concern Mash added 7.78% to $2.2300 to complete the top five set. Other gains were registered in Padenga +7.45%, Cassava +4.71%, Meikles +4.24% Innscor +3.33% and Delta +2.87%. General Beltings topped the laggards of the day on a 6.44% slide that took it back to $0.7484 while, NTS lost 5% to $9.5000. Art Corporation was 2.5% down at $7.2200 with apparel retailer Truworths easing 1.84% to end at 6.7898. First Mutual properties lost a negligible 0.15% to $6.7898, where demand could be found. Foreign purchases accounted for 5.41% of the day’s turnover while, disposals added 23.95% of the same.