EFE Securities •
2 years ago •
Market Commentary
Market Comment - 27.09.2021
ZSE remains upbeat in week-opener… The ZSE gains persisted into the new week spurred by surging selected heavies. The primary All Share Index added a further 4.09% to close at 8182.63 as the Industrial Index put on 4.09% to reach a new high of 27015.25pts. The Blue Chips Index rose 3.88% to 4661.99pts while, the Minings was the only faller amongst the indices with a 2.91% drop to settle at 6436.21pts weighed down mainly by waning RioZim. The top performer of the day was telecoms giant Econet with a 19.22% uplift to reach its year high of $50.1277. Zimplow which is currently trading under cautionary trailed on a 18.16% surge to $18.7880. Mash jumped 17.38% to $3.4879 as Axia went up 17.01% to $33.2960. Cigarettes manufacturer BAT capped the top five winners of the day after advancing 14.95% to $1,494.2500. Other notable risers of the day were Cassava (9.23%), Hippo (6.30%), SeedCo (3.79%) and Meikles (2.21%). Banking group NMB topped the fallers’ pack on a 12.13% retreat to $15.0000 followed by, RioZim that trimmed 10.82% to $25.0000. Beverages group Delta shed 2.16% to $110.0220 while, property concern FMP let go 1.45% to settle at a vwap of $13.7966. Hotelier African Sun slipped 0.33% to $8.0001 to cap the fallers’ pack. Thirty-six counters registered price movements in the session as thirty-one gained against five fallers. Activity aggregates were depressed in Monday’s session as volumes dipped 64.42% to 12.56m while, value outturn dropped 87.10% to $132.73m. Volume drivers of the day were Medtech and Bindura with respective contributions of 56.09% and 12.99%. Anchoring the value aggregate of the day were Econet, Delta and OKZIM which accounted for a combined 73.74% of the outturn. Foreign inflows amounted to $87,000.00 while, outflows stood at $57,347,420.00 to register a net funds outflow position. Meanwhile, on VFEX Padenga traded 980 shares at a price of USD$0.3000, yielding a value outturn of USD$294.0000. The Old Mutual Exchange Traded Fund soared 5.47% to $2.8758 on 3,600 units.