EFE Securities •

3 years ago •

Market Commentary

Market Comment - 18.06.2021

Profit taking continues on the ZSE… Profit taking persisted on the bourse, stretching the losses to a third consecutive session. The mainstream All Share Index dropped a further 0.52% to 5941.21pts with the Industrials easing 0.53% ending the session in the red. The Top Ten succumbed to 0.89% as it closed at 3172.69% on waning demand in heavies. The Mining Index maintained a positive momentum as it scratched a negligible 0.10% gain that took it to 6310.15pts on the back of rebounding Bindura. Small cap counters continued to shine with General Beltings topping the risers pack after 20% surge to close at an all-time high of $1.8600 while, RTG added a further 17.02% to $3.4000. Sugar refiners Star Africa was 12.41% higher at $1.2782 while, Zimre Holdings was 11.61% firmer at $3.2645. Apparel retailers Truworths ticked up 8.03% to $1.3167, where supply could be found. Econet added 0.56% to $27.4983 and Simbisa rose 1.23% to $41.9181. On the downside was heavy cap National foods which succumbed 12.61% to $332.0686 with life assurer Fidelity trailing on a 17.02% decline as it closed at $6.6154. OKZIM continued to lose it glitter as the retailer closed 6.43% lower at 15.1520, having traded a low of $15.0000. Zimplow was 5.70% down at $8.0835 while, Cassava lost 2.06% to $15.4347, where demand could be found. Activity aggregates reflected a mixed outcome as volumes exchanged dropped 48.56% to 4.39m shares, yielding a value outturn of $110.12m which was 0.35% up on yesterday. Delta and Econet were the top value contributors of the day claiming 32.64% and 17.53% in that order. Willldale claimed 18.55% of the volume aggregates as 814 200 shares exchanged hands in the name .