EFE Securities •

3 years ago •

Market Commentary

Market Comment - 27.04.2021

Market extends gains… The market extended gains in Tuesday’s session with the benchmark All Share Index adding 1.81% to 4569.24pts. The old Industrials added 1.13% to 14920.91pts while, the Minings ticked up 1.69% to 5052.19pts with the Top Ten Index putting on 1.69% to 2620.29pts. Unifreight led the risers list on a 20% surge that took it to $12.0000 on firming demand. Nampak added 12.85% to $14.1000 as apparel retailers Edgards stretched its gains on a 10.80% rise as it settled at $3.0134. Sugar refiners Star Africa was 7.68% firmer at $$0.5957 albeit closing well offered at that level. Conglomerate Innscor edged higher to $69.3523 after adding 7.68% and completed the top five risers. Twenty-one counters traded in the positive against fifteen fallers as eight remained unchanged to leave the market with a positive breadth. Hotelier African Sun was the sessions’ worst performer after succumbing 15.54% to $1.6142 on waning demand. NTS lost 13.73% to $8.0000 where demand could be established. First Mutual Holdings was 6.66% down at $21.0016 with Mashonaland easing 5.32% to $1.7908. Agricultural concern Ariston lost 4.48% to $1.9629, having reached a low of $1.9500 on the back of selling pressure. Activity reflected a mixed outcome as volumes exchanged declined 11.15% to $8.71m shares, yielding a value outturn of $183.52m which was 52.79% up from prior session. Econet and Meikles anchored the value outturn claiming 18.82% and 17.76% respectively. Econet and FML topped the volume aggregates contributing a combined 32.91%. Foreign purchases accounted for 8.61% of the day’s turnover while, disposals added 23.92% of the same.