EFE Securities •

3 years ago •

Market Commentary

Market Comment - 26.04.2021

Market swings back into the black The market swung back into the black in the week opener as demand emerged in selected counters across the board. The mainstream All Share Index ticked up 0.99% to 4488.06pts with the Top Ten Index putting on 0.31% to 2571.76pts. The Industrials rose 0.94% to close at 14753.95pts while, the Minings were 4.06% firmer at 4968.36pts. Banking group ZB led the risers list on an 18.42% surge that took it to $45.0000 on firming demand. Property concern Mash added 11.26% to $1.8915 as conglomerate Meikles continued with its glitter on an 8.55% rise to close at $59.7325. Life assurer, Fidelity was 8.18% firmer at $5.9500 on scrappy 100 shares. FML edged higher to $22.5000 after adding 7.14% and completed the top five risers. Twenty counters traded in the positive against fourteen fallers as five remained unchanged to leave the market with a positive breadth. Apparel retailer Edgars was the sessions’ worst performer after succumbing 9.14% to $2.7196 on waning demand. First Capital Bank lost 6.54% to $2.1578 where demand could be established. Sugar refiners Star Africa was 5.24% down at $0.5532 with hotelier African Sun easing 4.58% to $1.1913 as occupancies remained low. ZHL lost 4.49% to $2.0219, having reached a low of $2.0000 on the back of selling pressure. Activity improved in week opening session as volumes exchanged enhanced 59.39% to $9.80m shares, yielding a value outturn of $120.11m which was 15.27% up from prior session. Cassava and Innscor anchored the value outturn claiming 31.17% and 14.03% respectively. First Capital and Cassava again topped the volume aggregates contributing a combined 72.84%. Foreign purchases accounted for 18.75% of the day’s turnover while, disposals added 50.01% of the same.