EFE Securities •

3 years ago •

Market Commentary

Market Comment - 26.07.2021

ZSE gains extend into the new week... Selected heavies held the market up in the week opener leaving three of the benchmarks in our review in the black. The All-Share Index added 0.21% to settle at 6631.83pts while, the Industrial Index was up 0.22% to close at 21853.57pts. The ZSE Top Ten Index rose 0.25% to 3481.78pts while, the Mining Index slid 0.85% to 6124.01pts burdened by nickel miner Bindura which faltered 1.30% to $5.0042. BAT topped the risers set notching 20% to close at $1152.0000, followed by hotelier RTG which extended 11.46% to settle at $4.9000. Construction group Masimba surged 6.10% to close at $44.0000 while, telecoms giant Econet put on 3.48% to end at a vwap of $29.5972. Fast foods group Simbisa capped the day’s risers on a 3.44% improvement to $42.9848. Other notable gainers were Innscor (+1.52%), Lafarge (+1.19%) and OKZIM (0.64%). On the downside, a total of seventeen stocks weighed down the market as pharmaceuticals group Medtech was the worst performer of the day after plunging 18.37% to close at $0.2911, trailed by the Getbucks which shed a further 18.21% to settle at $4.7436. Zimplow slumped 13.75% to close at $13.0729 while, insurer FML retreated 13.04% to end at $25.0000. ART completed the top five laggards’ set after easing 7.49% to $7.8636. Gainers outnumbered fallers by a count of two leaving the market with a positive breadth. Activity aggregates were mixed in Monday’s session with volumes gaining 13.92% to 7.81m shares while, value outturn slipped 22.66% to $101.43m. Medtech and OKZIM accounted for 56.56% and 13.98% of the day’s volumes while, turnover was anchored by Innscor, Delta, OKZIM and FBC that claimed a combined 78.88% of the aggregate. Foreign trades were skewed towards the buyers as purchases stood at $3,836m while, sales were at $0.018m. Elsewhere ,no trades were registered on VFEX with SeedCo International closing offered at $0.2520 while, Padenga was bid at $0.1800.