EFE Securities •

3 years ago •

Market Commentary

Market Comment - 22.06.2021

ZSE slides on waning demand in heavies… The swung back in into the red in Tuesday’s session to see the mainstream All Share Index sliding 1.23% to 5877.97pts with the Top Ten Index succumbing 1.68% to close at 3131.76pts. The Minings were 3.97% lower to 5981.03pts weighed down by mining house RioZim while, the Industrials ticked up 1.25% to 19823.64pts. General Beltings led with top risers of the day for the fourth consecutive session as it surged 19.43% to reach an all-time high of $2.6632. Financial Services group Getbucks was 17.28% firmer at $9.5000 while, Truworths extended yesterday’s gains on an 8.33% rise that took the apparel retailer to $1.3000. Fidelity was 7.14% higher at $7.5000 while, the milk processor Dairibord which is trading under cautionary added 5.37% to close at $26.3810. Seedco Limited rose 1.82% to $67.0000, OKZIM added 0.33% to $15.0465, and Delta was 0.24% up to close at $70.1112. Sugar processors Hippo led the laggards of the day on a 17.65% slump that took the group lower at $140.0000 where demand could be found. Turnall lost 15.43% to $3.0163 while, RioZim eased 11.22% to $26.1000. Lafarge was 11.11% down at $60.0000. Diversified group Art dropped 10.28% to $7.0849 and completed the top five set. Activity aggregates improved as reflected in volumes exchanged which enhanced 11.57% to 8.79m shares while, turnover went up 138.69% to $170.29m. Econet was the most sought-after stock of the day propelling both volumes and value aggregates claiming 26.97% of the former and 38.31% of the latter. Foreign participation remained depressed as purchases accounted for a mere 0.23% of the day’s turnover while, disposal added 25.26% of the same.