EFE Securities •

3 years ago •

Market Commentary

Market Comment -26.02.2021

CBZ drags the market into the red … Top capitalised stock CBZ helped swing the market into the red in the month end session. The banking group was amongst the losers of the day after succumbing 11.76% to close at $75.0000, where demand could be found. Hippo Valley topped the laggards list after a 15.30% drop to see it settle at $121.9286 as it reversed yesterday’s gains. Agricultural concern Ariston was 3.29% down at $2.2630 while, ZHL lost $1.64% to end at $2.0590 on waning demand. Axia rolled back previous gains on a negligible 0.01% decline as it closed at $16.0000. Contrastingly, twenty-seven counters traded in the positive against six that went down as six remained unchanged to leave the market with a positive breadth. The primary All Share Index eased 0.41% to 4154.37pts while, the Industrials were 0.44% down at 13830. 51pts. The ZSE Top Ten was 1.77% down to 2469.42pts while, the Mining added 0.93% to 6683.44pts. FML emerged the top riser of the day after surging 20% to $18.6000, albeit on scrappy shares. NTS and Unifreight continued to shine as the duo ticked up a further 19.95% and 19.94%, taking them to $18.6000 and $1.1725 on firming demand. Property concern Mash was 17.62% firmer at $1.3832, having reached an intra-day high of $1. 40000. Zimpapers group put on 12.02% to $1.1202 and completed the top five winners. Other notable gains were seen in Padenga (+9.78%), OKZIM (+7.13%), Cassava (+3.27%), Econet (+2.91%) and Innscor (+1.27%). Volumes exchanged improved 392.75% to 19.62m shares yielding a value outturn of $191.50m which was 293.50% up on yesterday. Capital flight continued in the month end session as mere foreign inflows of $5.40m were registered while, outflows stood at $77.16m.