EFE Securities •

3 years ago •

Market Commentary

Market Comment - 14.10.2021

ZSE rises further... The market extended gains in Thursday’s session, taking winning streaks to ten consecutive sessions. The All-Share Index added a further 1.30% to 10184.95pts while, the segregated Industrials was 1.34% firmer at 33681.11pts. The Top Ten Index rose 0.72% to 6142.98pts while, the Mining Index closed at 6810.45pts after a 2.56% drop from yesterday, weighed down by waning Bindura. The market registered a positive breadth of three as sixteen counters gained against thirteen that lost ground. Retailer OK Zimbabwe maintained its gaining momentum as it topped the risers of the day on a 16.69% uplift to $28.4706 while, Axia grew 14.80% to $35.9054. Proplastics advanced 11.96% to $27.9896 as hotelier Meikles added 7.94% to $129.5830. SeedCo Limited completed the top five winners’ set on a 6.61% improvement to $107.0551on firming demand. Insurer Fidelity led the day’s fallers on a 8.18% loss to $7.4000 while, Zimre Holdings lost 7.19% to $3.5176 post the release of its HY21 results in which a loss after tax of $545m was reported in inflation-adjusted terms. Construction group Masimba Holdings slipped 5.84% to $50.0000 as nickel miner Bindura shed 5.72% to $5.2916. Medtech capped the top five losers of the day after sliding 2.10% to trade at $0.2287. Volume traded was 25.92% down at 3.32m shares while, turnover enhanced 17.98% to $154.94m. Econet, OK Zimbabwe and Delta emerged the most sought-after stocks of the day with a shared contribution of 42.19% to volumes and 55.35% to the value aggregate. FBC accounted for 19.85% and 12.76% to the volume and value outturns apiece. The Old Mutual Exchange Traded Fund lost 0.59% to $4.0393 with Padenga letting go 0.20% to end pegged at USD$0.2450 on paltry 50 shares.