EFE Securities •

3 years ago •

Market Commentary

Market Comment - 24.09.2021

Bullish sentiment prevails... The bullish sentiment prevailed on the market as thirty-two bulls charged on two bears to set a strong positive breadth of thirty. The mainstream All Share Index put on 6.68% to 7866.84pts while, the Top Ten Index rose 8.55% to 4488.02pts. The Industrial Index improved 6.66% to reach an all-time high of 25952.56pts. The Mining Index went up 8.26% to end at 6629.24pts as nickel miner Bindura jumped 12.72% to $5.6360. Simbisa headlined the gainers of the day on a 19.39% upsurge to $58.5182 post the release of its financial results. Beverages group Delta garnered 18.59% to end pegged at $112.4535 reaching a year high of $113.7500 in the session under review. Retailer OKZIM advanced 18.29% to settle at $20.9964 having traded a high of $21.2000 while, Axia rallied 17.58% to $28.4557 as banking group NMB extended 14.14% to $17.0714 capping the top five winners’ pack. Other notable heavy cap gainers of the day were Cassava (+8.97%), SeedCo Limited (+7.20%), Meikles (+6.98%), Innscor (+5.99%) and Econet (+2.17%). The duo of FMP and African Sun anchored the fallers pack with respective losses of 3.45% and 1.74% to close at $14.0000 and $8.0268. Volume of shares traded ballooned 305.11% to 35.28m, yielding a value outturn of $1.03bn which was a 734.73% swell from prior session. Bankers FBC was the top volume and value driver of the day claiming 64.30% of the latter and 66.13% of the former. The other notable volume driver was Zimplow with a 15.94% contribution to the aggregate. Local purchases claimed 99.81% of turnover while, sales accounted for 93.66% of the same. On the VFEX, SeedCo International added 16.67% to USD$0.2800 as 403,956 shares exchanged hands while, no trades were registered in Padenga. The Old Mutual Exchange Traded Fund was 9.08% stronger at $2.7267 having traded an intraday high of $2.8000.