EFE Securities •

3 years ago •

Market Commentary

Market Comment -12.03.2021

ZSE wanes further as VFEX registers trade… The market waned further in the week-ending session as Victoria Falls Stock Exchange (VFEX) registered its second trade since its launch last year with 10,047 shares worth US$1,808.46 exchanging hands in SeedCo International at a price of US$0.1800. The mainstream All Share Index let go 2.52% to close at 4461.41pts while, the Industrials slipped 2.40% to 14916.77pts. The Blue chips Index was down 3.37% at 2690.86pts while, the Resources Index shed 8.97% to end at 5798.04pts weighed down by Bindura which lost 12.05% to $5.2731. Leading the fallers’ pack was spirit and wines manufacturer Afdis which dipped 19.88% to settle at $40.0619 trailed by, Zimpapers which dropped 19.49% to $1.0652. Hippo went down 11.05% to $115.0000 as beverages group Delta capped the gainers of the day after a 7.03% plunge to close at a vwap of $46.2219. Gains were seen in logistics group Unifreight that surged 20% to $14.4000 followed by NTS which extended 19.98% to end pegged at $5.0150. Medtech rose 19.90% to $0.1410 while, banking groups NMB and ZB added 5.14% and 4.13% to close at respective prices of $7.9516 and $33.1143. Fallers outweighed gainers by a count of eighteen leaving the market with a negative breadth. Activity aggregates were depressed in Friday’s session as volume of shares traded declined 42.39% to 6.25m shares while, turnover weakened 76.83% to $18.37m. Medtech and Star Africa were the top volume drivers of the day with respective contributions of 56.37% and 24.53%. The value aggregate was anchored by Afdis (13.28%), OKZIM (10.87%) and CBZ (10.74%).