EFE Securities •
2 years ago •
Market Commentary
Market Comment - 13.08.2021
ZSE ends week in marginal gains… The market was marginally up in the week-ending session as heavy capitalized counters traded mixed. The mainstream All Share Index rose 0.19% to 7060.72pts while, the Industrials added a similar 0.19% to close at 23286.64pts. The heavyweights Index lost 0.45% to 3773.68pts while, the Minings trimmed 0.40% to 6091.19pts. Headlining the winners’ pack was insurer FML which reversed previous day’s losses as it closed at $28.0000 after putting on 19.05% on a paltry 400 shares. Telecoms giant Econet continued to soar in Friday’s session, for the sixth consecutive session as it rallied 7.02% to close at a vwap of $39.9192, having traded its year to date high of $40.0000. Spirits and wines manufacturer AFDIS gained 6.67% to settle at $80.0000 while, Zimre Holdings Limited improved 3.83% to $4.1900. Zimplow completed the top five risers of the day as it extended 2.70% to end at $17.3381. Getbucks was the worst performer of the day after the financial services group let go 4.72% to $8.7568, trailed by FBC which retreated 3.57% to $28.8806. Medtech continued to falter as it recorded a loss of 3.05% to settle at $0.2796 while, conglomerate Innscor slipped 2.99% to end at $96.3318. Top capitalized stock Delta capped the day’s losers, shedding 2.53% to $92.4235 having traded an intra-day low of $88.0000. The market registered a negative breadth of two as sixteen counters declined against fourteen risers. Activity aggregates were mixed in the session as volumes dipped 35.07% to 4.99m shares while, turnover grew 43.79% to $199.16m. The trio of heavies in OKZIM, Econet and Delta anchored the volumes exchanged, claiming 32.87%, 17.60% and 12.31% apiece. Value leaders of the day were Delta, Econet, OKZIM, ZB, and Innscor which contributed a combined 86.29% of the aggregate. Foreigners were net sellers in the session as 0.43m shares worth $8.06m were sold mainly in First Capital, against purchases worth $1.53m. The Old Mutual Exchange Traded Fund went up a negligible 0.02% to $2.5008 on 69,607 units. No trades were recorded on the VFEX in Padenga and SeedCo International as the duo closed the week at $0.1810 and $0.2520 respectively.