EFE Securities •

3 years ago •

Market Commentary

Market Comment - 14.05.2021

Bulls charge on ZSE… Thirty-four bulls charged against five bears on the market in week ending session to register a wide positive market breadth. Firming demand in all counters on the bourse helped push the Indices higher with the primary All Share adding a further 5.05% to reach an all time high of 5436.39pts while, the segregated Industrials ticked up 4.94% to settle at $17855.88pts. The ZSE Top Ten Index was 5.52% firmer at 3127.76pts while, the less active Minings rose 12.25% to 6330.54pts. Getbucks headlined the winners of the day on a 19.70% surge to close at $0.7900 with Axia trailing after a 19.58% rise that took the group to $22.0206. Retailer OKZIM was 17.75% firmer at $20.6338 as FMP advanced 17.70% to end at $8.0035. Nickel miners Bindura extended 17.06% to $5.9952, having traded at a high of $6.1400. Other significant gains in heavies were registered in Cassava +14.847%, Econet +9.30%, Innscor +5.88% and Delta +4.13%. Activity aggregates reflected a mixed outcome in the session with volumes traded enhancing 23.42% to 11.10m shares while, turnover declined 31.11% to $162.56m. The volume aggregate was anchored by Medtech which claimed 44.83% while, Delta contributed 5367% of the value outturn. Partially mitigating today’s gains were losses led by General Beltings which eased 7.27% to $0.7323 while, FBC rolled back to $28.2653 on a 5.01% loss. NMB was 1.70% lower at $11.0583 on paltry 200 shares. Unifreight lost 0.59% to $12.9231 while, Nampak completed the top five laggards list after letting go 0.26% to settle at $18.4516. Foreign purchases accounted for a negligible 0.01% of the turnover while, disposals claimed 64.02% of the same, to register a net funds outflow position.