EFE Securities •

3 years ago •

Market Commentary

Market Comment - 12.07.2021

ZSE maintains gains in week opener… The ZSE maintained gains for the second consecutive session week opener as firming demand spread across the board. The primary All Share Index was 2.33% firmer at 6236.80pts with the Industrials ticking up 2.34% to 20533.80pts. The ZSE Top Ten was the best performer amongst the Indices as it rose 3.85% to 3286.49pts while, the Minings added 1.27% to 6158.47pts on rebounding Bindura. Leading the gainers of the day was cable manufacturers CAFCA which charged 19.36% to $150.0000, trailed by Zimpapers which recovered 13.35% to $3.00000. Simbisa Brands firmed up 10.55% to $40.8049, having traded an intra-day high of $41.0000. Retailer OKZIM saw a 10.03% rise that took it to $17.9968 where supply could be found. Wrapping the top five set was a small cap counter General Beltings which added 9.96% to $2.1648. Other significant gains were seen in Delta +5.73%, Hippo +4.95%, Econet +3.66%, SeedCo +2.64% and Innscor +0.13%. Banking group NMB led the laggards of the day on a 6.93% decline to settle lower at $13.0300. Proplastics was 2.01% down at $26.0000 on waning demand. Milk processor Dairibord was 1.73% softer at $30.1154 while, First Mutual Properties lost 1.34% to $14.3333. Hotelier African Sun was 1.19% down at $5.3357 and completed the top five losers set. Activity aggregates reflected a mixed outcome in the as seen in volumes which went down 62.93% to 2.92m shares while, value outturn increased 1.79% to $89.23m. Foreign participation remained depressed as inflows accounted for a mere 0.42% of the day’s turnover while, outflows anchored 10.39% of the day’s turnover.