EFE Securities •

3 years ago •

Market Commentary

Market Comment -12.02.2021

ZSE sustains gains… The positive trail continued into weekending session albeit weak demand being seen in selected stock. The primary All Share Index added 0.50% to 4198.26pts while, the Industrials were 0.49% higher at 14046.05pts. Firming demand in selected heavies helped maintain the Top Ten Index as it rose 0.35% to 2625.70pts, the Minings were 1.19% firmer at 5264.37pts. Activity aggregates reflected a mixed outcome as turnover declined 3.44% to $78.27m while, volumes exchanged enhanced 31.34% to 7.30m shares. Medtech and OKZIM propelled the volume aggregate with respective contributions of 38.26% and 13.82% while OKZIM, Delta and Econet drove the value outturn with a combined contribution of 65.36%. Foreign participation remained depressed as inflows accounted for 12.18% as outflows of the day’s turnover accounted for 42.60%. Headlining the market winners was food processing and packaging giant National Foods that rallied 19.99% for the second consecutive session and closed at a high of $129.9500 on firming demand. Logistics group Unifreight followed on a 19.91% surge that took it to $2.6650. Sugar refiners Star Africa were 8.46% firmer at $0.50000 with Edgars adding a further 16.68% to end at $2.4593. Willdale edged higher to $0.5808 after a 16.16% gain to complete the top five risers set. Leading the laggards set was Proplastics which rolled back its previous gains on a 15% drop to see it close at $17.0000. Art eased 14.90% to $5.9571 with General Belting shedding 14.46% to settle at $0. 2053. OKZIM was 10.72% down at $19.000 as selling pressure persist while, Padenga slumped 6.26% to $30.9118, where demand could be established.