EFE Securities •

3 years ago •

Market Commentary

Market Comment - 24.06.2021

Market stretches gains… The ZSE extended gains for the second consecutive session in Thursday’s trades to see the primary All Share Index adding a further 1.75% to 6075.39pts. The segregated Industrials were 1.78% firmer at 20003.59pts spurred by firming demand in small cap counters. The Top Ten ticked up 1.20% as heavies traded mixed while, the Mining Index was the only Index to lose ground after easing 0.23% to settle at 5977.51pts. Sugar manufacturer Star Africa was the pick of the cherry as it topped the gainers set on a 19.91% surge to settle at $1.6825 with Get bucks financial services group extending 19.51% to $11.4250, albeit on scrappy 200 shares. Unifreight was 16.99% higher at $18.0000 while, heavy cap National foods reached an all time high of $450.0000 on firming demand. Agricultural concern Ariston rose 11.92% to $3.4584 as it completed the top five set. Other significant gains in heavies registered in Cassava +3.55%, Delta+2.03%, Hippo +1.07%, Padenga+0.74% and Econet +0.43%. A positive market breadth was registered as twenty-three counters gained against thirteen that went down while, three remained unchanged. RTG rolled back to 16.16% as it topped the laggards of the day. Following was apparel retailers Edgars which dropped 11.37% to $3.1000 while General Beltings halt its rising streak on a 5.22% loss to $3.0282 on the back of profit taking. Property concern Mash was 4.23% lower at $3.4000 while Truworths lost 2.62% to $1.3105. Volumes exchanged enhanced 17.36% to 10.20m while, turnover dipped 74.25% to $67.39m. Foreign inflows accounted 3.72% of the day’s turnover while, disposals claimed 4.20% of the same.