EFE Securities •

3 years ago •

Market Commentary

Market Comment - 17.06.2021

Top caps weigh on the market… Profit taking seen mainly in heavies continued on the bourse to see the Top Ten Index succumbing 2.08% to 3201.27pts with the mainstream All Share Index sliding 1.14% to end at 5972.50pts. The Industrials were 1.21% lower at 19647.09pts while, the Minings rebounded 3.59% to settle at $6306.95pts. Risers and fallers were equally distributed at seventeen while, three remained unchanged. Heavies Delta and Cassava found their way in the top five fallers zone as the duo plunged 4.68% and 4.57% to close at respective prices of $68.9701 and $15.7596. Leading the fallers of the day was agricultural concern Ariston which succumbed 12.39% to 3.1422, having reached a low of $3.0000, while Star Africa reversed previous gains on a 12.36% as it ended at $1.1371. Zimplow was 4.63% lower at $8.5721, where demand could be established. Other significant losses were seen in Econet -3.29%, OKZIM -3.69%, Simbisa -1.97%, Axia-1.03% and Innscor -0.62%. Leading the market gainers was General Beltings which rose 19.90% to $1.5500 with hotelier RTG following on a 19.11% surge to $2.9056. First Capital Bank was 6.06% firmer at $3.8401 with nickel miner Bindura ticking up 5.74% to close at $5.0927, albeit closing well offered. Padenga reversed yesterday’s losses on a 5.38% gain that took the diversified group to $27.6735. Activity aggregates reflected a mixed outcome as volumes exchanged enhanced 23.98% to 8.53m shares, yielding a value outturn of $109.74m which was 29.80% down on yesterday. Banking groups ZB and FBC were the top value contributors of the day claiming 25.57% and 24.28% in that order. Medtech claimed 52.25% of the volume aggregates.