EFE Securities •
2 years ago •
Market Commentary
Market Comment - 27.08.2021
ZSE seesaws in week ending session… The market faltered in the week-ending session leaving four of the benchmark indices in our review, closing pointing southwards. The All-Share Index let go 0.57% to close at 6735.80pts while, the Industrials slipped with a similar 0.57% to 22207.86pts. The Top Ten Index retreated 0.83% to end at 3647.46pts while, the resources Index was 0.90% softer at 5970.30pts weighed down by nickel miner Bindura which slumped 1.40% to $4.8046. A negative market breadth of five was registered as seventeen counters lost ground against twelve, as seven remained unchanged. Headlining the shakers of the day was banking group NMB which dropped 14.06% to settle at $13.7500 while, telecoms giant Econet shed 4.02% to end pegged at a vwap of $38.2554. Ariston reversed previous day’s gains after losing 3.40% to trade at $3.0073 as Zimplow went down 2.85% to settle at $15.5016 on waning demand. ZHL completed the top five laggards set on a 2.23% loss to end at $3.9107. Partially offsetting losses for the day were gains in apparel retailer Truworths which jumped 6.34% to $2.1495. SeedCo Limited trailed on a 3.27% improvement to $77.0096 having traded an intraday high of $77.8000. Brick manufacturer Willdale put on 2.39% to $3.0027 while, pharmaceutical group Medtech added 1.55% to end at $0.2693. Capping the top five risers’ pack was fintech group Cassava which gained 1.40% to $19.9991. Activity aggregates declined in the session as reflected by volumes which dropped 54.90% to 4.05m shares while, turnover went down 42.96% to $68.87m. Volume aggregates were mainly driven by Truworths, Bindura and Cassava which accounted for 24.93%, 12.90% and 11.46% respectively. Value outturn was anchored by heavies Innscor, Delta, Cassava and Econet which claimed a combined 66.10% of the aggregate. The Old Mutual Exchange Traded Fund lost 4.65% to $2.1522 as 227,200 units valued at $488,984.00 exchanged hands. Elsewhere, on the VFEX SeedCo International advanced 1.19% to close at a high of $0.2550 with no trades registered in Padenga. Foreign outflows amounted to $1.17m against a nil inflow position recorded for the day.