EFE Securities •

3 years ago •

Market Commentary

Market Comment- 13.04.2021

Market sinks further… The ZSE extended losses for the sixth session with all the benchmark indices in our review closing in the red. The mainstream All share index lost 1.18% to close 4196.37points with the industrials easing 1.18% to settle at 13753. 36pts. The Top Ten suffered a 1.77% shock to end at 2411.78pts while, the Mining index was 1.12% lower to settle at 5536.16pts. A set of twenty-four losers weighed in on the market with milk the processing Dairibord leading the pack losing 14.10% to close at $10.3083. Art and Edgars lost 8.80% and 6.53% to close at $5.0160 and $2.8041 apiece. Meikles eased 4.33% to $41.0938 while, pharmaceutical group Medtech dropped 3.97% to complete the top five losers’ set at $0.1113. Other notable losses were seen in Delta -3.90%, Econet -3.87% and Truworths -3.01%. Countering the losses for the day were gains from thirteen counters with Zimplow leading at 5.88% to close at $7.0000. The hotelier African Sun picked up 5.86% to settle at $237.92, National Tyre services added 4% to end at $10.4000 while, Mashonaland Holdings recovered $1.7952 to 2.55%, albeit on weak demand. Volumes exchanged went up 5.63% to $9m shares producing an outturn of $179.23m which was 5.83% up from yesterday. Medtech led the volume aggregates of the day claiming 30% while, Innscor and Delta anchored the value total with respective contributions of 39.99% and 30.92%. Foreign purchases rose sharply by 27237.76% to $79.6m while, foreign sales dropped by 41% to $87m.