EFE Securities •
2 years ago •
Market Commentary
Market Comment - 17.08.2021
ZSE takes a further dip… The ZSE continued to lose ground for the second consecutive session as three of the benchmark indices in our analysis closed pointing southwards. The mainstream All Share Index was 1.11% softer at 6968.83pts while, the Industrials eased 1.13% to 22978.80pts. The ZSE Top Ten Index tumbled 1.20% to 3700.45pts while, the Minings was the only index to gain for the day as it added 0.57% to 6116.63pts backed by Bindura which recovered from prior losses. A total of twenty counters weighed on the market with Star Africa emerging as the worst performer as it slumped 19.33% to $1.9506. Zimplow shed 8.29% to close at $15.7500 while, beverages group Delta continued to steam off as it lost 6.69% to close at $86.2177 having traded an intraday low of $84.0000. Trailing was ART Corporation which succumbed 4.94% to $8.0794 as Masimba holdings let go 4.69% taking its price to $40.0027. Other notable losers were Econet (-1.64%), CBZ (-1.80%), ZB (-2.17%) and OKZIM (-1,74%). Partially countering the losses for the day were gains led by conglomerate Innscor which topped on a 7.04% gain to close at a vwap of $103.8487, followed by digital media group Zimpapers which rebounded 6.90% to end at $3.1000. Fidelity life assurance rose 3.90% to $11.4286, with banking group FBC Holdings ticking up 3.57% to end the day at $29.0000. First capital bank sealed the top five risers’ list on a 2.99% rise to $3.6392. Activity aggregates for the day faltered as market turnover slumped 72.85% to $176.63m while, volume exchanged declined 49.79% to 7.3m shares. Delta, Econet, Simbisa and Innscor drove the value aggregate claiming a combined 56.07% of the outturn. Anchoring the volume aggregate were Cassava (14.66%), Willdale (14.34%), Star Africa (13.21%) and OKZIM (10.91%). On the VFEX, no trades were recorded as Padenga and Seedco international closed at US$0.1800 and US$0.2520 respectively. The Old Mutual exchange traded fund was down 0.29% to $2.4804 as 15,700 units traded, yielding value of $38,942.00.