EFE Securities •

3 years ago •

Market Commentary

Market Comment -27.01.2021

Market breaks rising streak… The ZSE broke its two-week rising streak in the mid-week session to see all the indices in our review, closing in the red. The primary All Share Index eased 4.53% to 3580.06pts with the segregated Industrials dropping 4.56% to 11969.09pts. The less active Mining Index lost 2.59% to 4675.38pts with the Top Ten being the worst performer amongst the indices after dropping 6.46% to 2217.77pts. Hippo headlined the losers of the day on a 19.98% slide to end at $93.3069 with SeedCo Limited trailing after letting go 19.91% to $32.1000. Delta was seen on the losers set for the second consecutive session after succumbing 19.59% taking its price to $33.0987, where demand could be found. Hotelier RTG was 17.78% down to $1.4058 while, Ariston lost 15.76% to close at $1.3584. Eighteen counters gained against twenty that lost ground, as one remained unchanged to leave the market with a negative breadth. Activity aggregates improved in the session with volumes traded enhancing 74.08% to 27.37m shares while, turnover rose 146.13% to $323.70m. Econet was the most liquid counter of the day as it propelled both the volume and value aggregates with 73.43% and 89.43% in that order. The other notable trade was in Cassava which claimed 4.72% of the turnover. Foreign purchases rose 428.74% to $2.09m while, sales declined 43.66% to $30.24m. Local purchases accounted for 99.35% of turnover while, sales claimed 90.66% of the same. Partially mitigating today’s losses were gains led by FMP which firmed 20% to $6.6000 while, Unifreight put on 19.94% at $0.3850. TSL added 19.92% to $46.0500 with banking group FBC ticking up 19.60% to close at $18.0000.