EFE Securities •

3 years ago •

Market Commentary

Market Comment - 20.04.2021

The market opened the new week in gains showing signs of firming demand from selected counters across the board. The All-Share Index picked up 2.99% to settle at 4353.01pts. The top capitalised Index and the Industrials ticked up 2.52% and 3.09% to end at 2482.77pts and 14293.85pts, respectively. No positive change was recorded for the Mining Index as it continued to decline as it dropped 2.52% to close at 5163.32pts. On the gainer’s category, Afdis and Masimba led the pack having shored up 18.52% and 18.32% to end at $48.0000 and $19.0000, respectively. Nampak improved from the previous session, on a 13.39% gain to $12.0000 on scrappy shares. Wrapping up the top gainers was First Mutual Holdings which added 12.82% to close at $22.0001 and Fast foods retailer Simbisa Brands which advanced 10.71% to $30.0000. General Beltings Holdings went down 13.04% to close at $60.0000, followed by National Tyre Services Limited which dropped 7.47% and ended at $9.2526. Other counters in the top five loser’s zone were Unifreight (-7.14%), Turnall Holdings (-6.77%) and Bindura (-3.60%) which closed at $13.0000, $2.8061, and $4.5290 in that order. Volumes traded significantly improved 162.17% to 15.87m shares being driven largely by First Mutual Holdings which emerged as the most sought-after stock in both the volumes and values totals. The other part of the remaining value was shared among the heavies Meikles, Econet, Innscor and Delta which contributed (14.87%), (14.54%), (13.42%) and (1.40%) in that order. Foreign trades improved with purchases rising by 279.68% to $99.87m and sales going up 311.05% to $339.86m. Interestingly, First Mutual Holdings contributed 62% of those foreign sales.