EFE Securities •
2 years ago •
Market Commentary
Market Comment - 23.08.2021
ZSE rebounds in week-opener… The ZSE rebounded in the week opening session, reversing its five-day losing streak. Gains in selected heavies spurred the market recovery as the mainstream All Share put on 0.39% to 6846.66pts while, the old Industrials closed at 22579.77pts after adding 0.40%. The blue chips Index rose 0.29% to end at 3648.38pts with the Mining Index letting go 0.51% to 5929.10pts. The market closed with a negative breadth of four as seventeen stocks declined against thirteen gainers. Getbucks secured the first position of the winners’ pack after the microfinance group jumped 16.96% to end at $10.0000. Trailing was Dairibord which jumped 14.37% to rest at $41.1964 as telecoms giant Econet advanced 1.64% to end at a vwap of $38.3148 having traded an intraday high of $39.0000. Retailer OKZIM improved 1.02% to $16.6617 while, Fintech group Cassava capped the top five risers on a 0.80% charge to $16.1283 on 1.27m shares valued circa $20.56m, closing with a market cap of $41.78bn. The top laggard of the day was agriculture concern Ariston which declined 7.29% to $3.1567 as Star Africa followed on a 3.23% retreat to settle at $1.9308. Brick manufacturers Willdale shed 2.91% to $3.0362 while, apparel retailers Truworths trimmed 2.27% to end pegged at $2.1500. Banking group First Capital completed the top five shakers of the day on a 2.26% loss to $3.4180. Activity aggregates faltered in Monday’s session as reflected in volumes that dropped 42.07% to 3.62m shares while, turnover dipped 66.51% to $69.96m. The top volume drivers of the day were Cassava, Medtech and Bindura with respective contributions of 35.22%, 25.09% and 11.12%. Heavies Cassava, Delta and Innscor accounted for a combined 60.02% of the value outturn. The Old Mutual Exchange traded fund went up 1.33% to close at $2.2805 having traded a high of $2.4000 for the day. The VFEX recorded no trades in the session as Padenga closed with a bid at USD$0.1800 while, SeedCo International was offered at USD$0.2550.