EFE Securities •

3 years ago •

Market Commentary

Market Comment - 28.06.2021

Market declines in week opener … The ZSE registered losses in the week opening session to see all the indices closing in the red. The mainstream All Share Index lost 0.66% to 6098.14pts while, the Industrials slumped 0.62% to 20073.24pts. Profit taking took its toll in heavies which dragged down its own Top Ten index to 3167.90pts after succmibing 2.46%. The Mining was 3.14% softer at 6110.42pts on the back of losses in Bindura. Agricultural concern Ariston topped the risers of the day on a 19.77% surge that took it to $4.1592 with banking group Getbucks continuing with its rally as it added a further 19.28% to reach an all time high of $15.0000. Hotelier RTG was 19.10% firmer at $4.0800 albeit on paltry 4,000 shares. Sugar refiners Star Africa extended 18.85% to $2.3943 on firming demand. Milk processor Dairibord ticked up 16.54% to $32.0000 as 22,000 shares exchanged hands. Banking group CBZ was 0.42% firmer at $84.3429, SeedCo Limited added 0.32% to $55.4167 and Axia rose 0.17% to $22.0556. The risers and fallers spectrum was equally distributed at nineteen. Hippo Valley rolled back previous session’s gains as it led the fallers pack on a 19.92% drop to close at $133.7000. First Mutual properties was 18.78% lower at $14.0000 on waning demand. FML lost 9.02% to $25.0183 while, General Beltings was 8.70% softer at $2.3898. Spirit manufacturers AFDIS slid 7.02% to $65.0893 and completed the top five losers. Other losses in heavies were seen in Delta -1.70%, Padenga -1.23%, Cassava and Innscor -0.02% apiece. Volumes exchanged enhanced 15.24% to 12.04m shares while, turnover dropped 4.67% to $167.30m. The trio of Delta, FML and Masimba drove the value outturn of the day claiming 16.02%, 15.72% and 13.38% in that order. Medtech anchored the volumes totals on a 40.48% contribution.