EFE Securities •

3 years ago •

Market Commentary

Market Comment - 21.04.2021

Heavies spur market gains… Firming demand seen in selected heavies across the board helped maintain the market in the black. As a result, the Top Ten Index was the best performer amongst the Indices as it ticked up 2.26% to 2538.95pts. The primary All Share Index was 1.40% firmer at 4414.04pts with the segregated Industrials adding 1.56% to 14516.37pts. The Minings was the only Index to continue losing ground as it trimmed a further 7.74% to 4763.77pts. Padenga led the gainers of the day on a 14.52% surge that took it to $30.0046, having traded an intra-day high of $31.0000. Art Corporation rebounded 9.27% to $6.0100 with agricultural concern Ariston putting on 8.94% to end at $1.8519. Medtech which is currently trading under cautionary added 8.17% to $0.1139, albeit on selling pressure. Dairibord recovered 7.46% to $15.0110 and completed the top five set. Other significant gains in heavies were in Delta, Econet, Innscor and Meikles. On the losing side, was nickel miner Bindura which succumbed 11.15%, Masimba Holdings which shed 9.26%, First Capital that dropped 8.46%, Afdis which eased 4.17% and Unifreight that let go 38.5%. Activity aggregates declined as volumes went down 52.65% to 7.5m shares while, value dipped 73.41% to $104.91m. Delta anchored the turnover of the day, claiming 26.07% with OKZim and Innscor following, contributing 17.25% and 14.95% respectively. Foreign trades remained depressed as purchases dropped 98.81% to $1.19m while, outflows declined 86.06% to $47.37m, to register a net fund outflow position.