EFE Securities •

3 years ago •

Market Commentary

Market Comment -15.02.2021

ZSE takes a breather in week opener… The market took a breather the in mid-month session as all the indices in our review closed pointing southwards. The mainstream All Share index eased 1.12% to 4151.06pts with the Industrials dropping 1.09% to 13893.02pts. Waning demand in heavies helped drag the Top Ten index deep in the red to see it ending at 2567.80pts while, the Minings were 3.15% down at $5098.60pts. Similarly, activity aggregates declined in the session as reflected in all measures which closed in the red. The turnover dipped 83.06% to $13.26m with volumes exchanged dropping 30.58% to 5.07m shares. Medtech anchored the volumes outturn, with Innscor propelling the turnover claiming 26.09% to the total. Forty-three counters exchanged hands as fifteen registered against twenty that lost ground. Headlining the market losers of the day was mining house RioZim that succumbed 10.33% and closed at $19.7273 while, African Sun followed on a 9.47% loss that took it to $1.5200. Simbisa was 8.97% down to $21.0189, where demand could established. Property concern Dawn lost 6.45% to $0.4000 with heavy cap Delta shedding 5.60% to $46.2500 on waning demand. Other losses in heavies were seen in Econet (-5.09%), Innscor (-3.36%), Hippo (-5%), SeedCo (-3.44%), Padenga (-2.89%) and Cassava (-1.00%). Leading the risers of the day was Turnall which edged higher to 19.88% that took its price to $1.1325 as NTS added 19.85% to $0.3290. Proplastics put on 15.02% to $19.5531 while, ART reversed prior sessions gains on a 13.22% lift to $6.7449. Foreign inflows accounted for 2.11% of the day’s turnover while, outflows added 7.90% of the same, as capital flight continued.