EFE Securities •
2 years ago •
Market Commentary
Market Comment - 16.08.2021
ZSE opens in the red albeit on improved activity… The ZSE reversed prior sessions’ gains in week opener to see all the four indices in our review closing in the red. The primary All Share Index dropped 0.19% to 7047.15pts while, the segregated Industrials similarly trimmed 0.19% to settle at 23214.84pts. The Mining Index was 0.16% softer at 6081.68pts as Bindura continued to lose ground while, the Top Ten index declined 0.75% to 3745.21pts as heavies traded mixed. Activity aggregates improved in the session as volumes ballooned 192.35% to 14.58m shares while, turnover jumped 226.69% to $650.61m. A block trade in Masimba highlighted today’s session as 10.4m shares worth circa $439.43m exchanged hands. The parcel claimed 71.78% of the volumes total and 67.55% of the value outturn. Econet was the other notable volume and value driver contributing 13.08% of the former and 11.73% of the latter. The market registered a negative breadth of two as nineteen counters declined against seventeen risers, while six sailed stable. Foreign purchases stood at $19,680.00 while, sales amounted to $32,654,875.00 leaving the market with a net funds outflow position. Sugar refinery Star Africa led the fallers of the day on 6.75% drop to close at $2.4179, followed by spirits manufacturer AFDIS which retreated 6.22% to end the day at $75.0208. The duo of banking groups in CBZ and FBC found their way in the losers’ zone after shedding 4.43% and 3.05% to close at $89.8758 and $28.0000 apiece. Cement manufacturer Lafarge slipped 2.87% to settle at $95.1875 as it capped the top five losers’ list. Financial services group ZB Holdings topped the top gainers of the day as it surged 15% to reach an all-time high of $92.0000, albeit on scrappy shares while, construction group Masimba was 4.87% firmer to close at $41.9701 on resurgent demand. First Capital bank enhanced 4.11% to $3.5334 while, hotelier African Sun rebounded 3.30% to $7.9954. NMBZ added 2.87% to $16.5238 and completed the top five risers set. Elsewhere, on the VFEX Padenga holdings slipped 0.55% to US$0.1800 as 5,988 shares exchanged hands.