EFE Securities •

3 years ago •

Market Commentary

Market Comment - 28.09.2021

Winning streak continues... The market continued to firm in the second session of the week as the All-Share Index gained 2.92% to 8421.17pts while, the Top Ten Index edged up 3.54% to 4827.03pts. The Industrial Index was 2.91% stronger at 27800.10pts while, the Mining Index rebounded 3.81% to close at 6681.67pts reversing prior session’s losses. Medtech was the best performer of the day with a 19.18% jump to $0.2989, trailed by brick manufacturer Willdale that surged 19.01% to $4.0000. Property concern Mash Holdings added 18.21% to trade at $4.1230 as fintech giant Cassava advanced 13.18% to $30.9911. Hippo Valley completed the gainers for the day as it added 12.88% to $225.75000. The major casualty of the day was First Mutual Holdings which lost 3.54% to trade at $30.0116. First Mutual properties trailed on a 2.15% slip to $13.5000 as plastic manufacturer Nampak was 0.38% softer at $12.9211. Zimre Holdings shed 0.31% to $3.9000 while, banking group CBZ eased 0.21% to $83.0237 completing the losers’ category. Twenty-seven counters advanced against eight that lost ground, leaving a positive market breadth of nineteen. Volumes traded went down 23.22% to 9.64m shares while, turnover improved 218.45% to $422.7m. Volume drivers of the day were Cassava (14.11%), CBZ (10.61%), Medtech (9.91%), ZB(9.29%) and Bindura(8.25%) in that order. CBZ, ZB and Delta were the top value drivers of the day with a combined contribution of 51.23% to the value outturn. Foreigners were net sellers in the session with purchases amounting to $22,494.60 while, sales stood at $50,617,340.00. No trades were recorded on the VFEX while, the Old Mutual Exchange traded fund rose 10.55% to $3.1792 having touched a high of $3.3000.