EFE Securities •

2 years ago •

Market Commentary

Market Comment - 15.09.2021

Star Africa block trade highlights the market… The block trade in Star Africa anchored the activity aggregates today claiming a chunk of 99.94% of the volume outturn and 94.53% of the day’s turnover. A circa 2.7bn shares in the sugar refiners exchanged hands at a negotiated price of $0.3980, albeit it closing the day pegged at $1.7865 after retreating 2.11%. The volume of shares traded ballooned 60579.84% to 2.76bn yielding a turnover of $1.16bn. The top gainer of the day was apparel retailer Edgars which surged 9.74% to settle at $3.8500. Following was construction group Masimba which reversed previous days’ losses with a 7.94% rise to close at $38.9533. Other notable gainers were Cassava (+1.35%), Innscor (+1.27%) and Econet (+0.39%). Zimpapers grew 7.41% to $2.9000 as Proplastics was 5.70% stronger at $27.0000. Capping the day’s winners was banking group CBZ which advanced 5.68% to $85.0000. Trading in the negative territory was ZHL which declined 10.80% to 3.5146, trailed by NMB that let go 6.25% to close at $15.0000. Nickel miner Bindura slipped 5.13% to $4.6518 dragging the Mining Index to 6225.12pts as it shed 3.10%. Truworths was 4.49% lower at $1.9000 on waning demand. Thirty-eight stocks registered trades on the bourse distributed into nineteen gainers, sixteen fallers and three that sailed stable registering a positive market breadth for the day. The market recovered from its losses in the prior session to close the midweek session with modest gains. The primary All Share Index put on 0.55% to close at 6894.11pts while, the Industrial Index improved 0.60% to 22724.57pts. The Top Ten Index added 0.86% to end at 3789.91pts On the VFEX Padenga garnered 18.65% to close at USD$0.2500 having traded 450,000 shares worth USD$112,500.00 with no trades in SeedCo International. The Old Mutual Exchange Traded Fund lost 1.91% to close at $2.3000 on 14,136 units worth $32,512.80.