EFE Securities •

3 years ago •

Market Commentary

Market Comment - 29.04.2021

Market gains in penultimate session… The ZSE ended the penultimate session of the month with scratchy gains to see the main indicators close in the black. The mainstream All Share Index added 0.86% to 4632.50pts with the old Industrial putting on 0.85% to 15210.86pts. The Top Ten Index added a marginal 0.30% to close at 2654.38pts as heavies traded mixed. Twenty-three counters traded in the positive against eleven that went down while six traded unchanged, leaving the market with a positive breadth. Activity declined in the session as reflected in volumes which shed 6.74% to 5.78m shares, yielding a value outturn of $110.31m which was a 16.93% slip on yesterday. First Mutual Holdings was the most liquid stock of the day as it drove both the volumes and values of the day, claiming 36.15% and 31.33% respectively. Other significant trades were in AFDIS and Simbisa which contributed a combined 31.31%. Foreign participation remained depressed as inflows accounted for 35.96% while, outflows added 24.91% of the day’s turnover. Cement manufacturers Lafarge and financial Services group Getbucks were the session’s best performers as the duo ticked up 20% to settle at $60.0000 and $0.4800 apiece. Nampak followed on a 18.64% rise to $19.0000 with spirit manufacturers AFDIS adding 8.70% to $50.0000. First Capital group rose 8.67% to $2.3001 on resurgent demand. Other notable trades were in Econet +3.19%, Cassava +0.20% and Innscor +1.65%. Leading the losers of the day was sugar refiners Star Africa that continued to lose its steam as it trimmed a further 12.38% to $0.5016. Zimplow slumped 10.16% to $6.0191, despite the release of its FY20 results in which the group declared a $0.1048 dividend to shareholders. Unifreight lost 8.33% to $11.0000 while, FML eased 4.09% to %22.0201. ZHL was 3.71% down at $1.9259 to complete the top five fallers set.