EFE Securities •

3 years ago •

Market Commentary

Market Comment - 21.06.2021

Market rebounds as Seedco relists… The market recovered in the week opening session as SeedCo Limited relisted on the ZSE. The seed processor which opened at $21.6089 saw firming demand as it closed at an average price of $65.8006, having traded an intra-day high of $70.0000. General Beltings surged 19.89% to $2.2300 spurred by retailer demand with FMP ticking up 18.75% to reach $19.0000. Brick manufacturers Willdale added 13.62% to $2.2722 with life assurer Fidelity rising 13.62% to close at $7.0000. Turnall was 5.07% firmer at $3.5667 and completed the top five gainers set. Other notable gains were seen in Padenga +5%, Delta +2.08%, Simbisa +0.89% and Econet +0.29%. On the fallers side was apparel retailer Truworths which rolled back previous sessions gains on a 8.86% loss that took it to $1.2000. ZHL was 6.78% down at $3.0431 while, property concern Mash was 3.92% lower at $3.4218. Star Africa lost 2.38% to $1.2478 while, nickel miner Bindura was 2.03% down at $4.9971, where demand could be found. The mainstream All Share Index added 0.17% to 5951.28pts while, the segregated Industrial Index was 0.19% up at 19579.74pts. The Top Ten Index was 0.40% firmer at 3185.29pts as the the Minings were the only Index to lose ground having succumbed 1.30% to 6228.36pts. Activity aggregates reflected a mixed outcome in week opener as volumes exchanged enhanced 79.49% to 7.87m shares while, values dropped 35.21% to $71.35m. OKZIM emerged the top value contributor of the day claiming 42.76% while, Medtech anchored volumes on a 46.07% claim. Foreign purchases accounted for 11.5% of the day’s turnover while, disposals added 18.04% of the same.