EFE Securities •

3 years ago •

Market Commentary

Market Comment - 15.06.2021

Market rally continues… The ZSE continued to rally in Tuesday’s session to see the primary All Share Index record new high of 6115.35pts. Three of the indices closed in the positive with only the Minings closing in the red as waning demand in Bindura continued to erode the Index. The Industrial index was 1.42% firmer, breaking the 20,000pts mark to close at 20122.94pts. The Top Ten index extended 0.65% to 3326.17pts while, the Minings lost 0.47% to settle at 6326.17pts. Overall market gains have been sustained to eleven consecutive sessions. Small cap counters led the risers of the day with General Beltings topping on a 19.84% to $1.2000. Medtech followed on a 13.13% gain that took it to $0.17000. Banking group Getbucks was 10.08% higher at $7.3908 with hotelier Afsun ticking up 9.24% to $5.1163. Apparel retailers Truworths rebounded 9.01% as it closed at $1.3100 on scrappy shares. Other significant trades were in National Foods+8.57%, Meikles+6.98%, Delta +2.56%, CBZ +1.89% and Cassava +0.86%. A pack of ten counters partially weighed down the market with diversified group ART leading on a 7.87% slump that took it to $8.2000. Life assurer Fidelity was 6.25% down at $7.5000 while, agricultural concern Ariston reversed prior session’s gains on a 3.57% loss to $3.0135. Retailer OKZIM shed 2.85% to $18.0940 ahead of its last day to trade and register the dividend. Heavy cap Innscor found its way on the fallers zone as the conglomerate trimmed 2.74% to close at $90.2686, closing bid $90.0500. Activity aggregates reflected a mixed outturn with volumes exchanging declining 52.02% to 6.25m shares while, turnover rose 53.91% to $223.11m. Econet was the most liquid stock of the day as it anchored the volume and values of the claiming 44.62% and 35.39% of the totals, respectively.