EFE Securities •

3 years ago •

Market Commentary

Market Comment - 29.06.2021

ZSE swings back into the black as small caps shine… The market swung back into the black in Tuesday’s session, spurred mainly by firming demand seen in small cap counters. In recent weeks small cap counters have been the markets’ favourite picks, as they topped the top five risers of the day with Willdale leading on a 19.29% charge that took the brick manucturer to $4.1637. Star Africa surged 19.01% to $2.8495 while, National foods was 15.59% higher at $520.1342 on firming demand. Hotelier RTG continued with its glitter as it rose 10.29% to settle at $4.5000. Medtech which is trading under cautionary ticked up 9.05% to close at $0.2072. Other significant gains in heavies Hippo +4.73%, Padenga +1.77%, and Delta +0.55%. Risers and fallers spectrum was equally distributed at seventeen while, six remained unchanged. Construction group Masimba led the laggards of the day after succumbing 10.36% to $36.5000 while, Seedco Limited slumped 9.22% to end at $50.3085. Ariston reversed yesterday’s gains on a 4.18% loss as it closed at $3.9855. Zimre Holdings Limited lost 3.64% to $3.2491 on selling pressure while, Fintech group Cassava was seen in the top five losers’ zone as it slipped 3.23% to settle at $15.0005, having traded a low of $15.0000. The primary All Share Index closed 1.16% higher at 6168.96pts with the Industrials ticking up 1.19% to 20311.29pts. The ZSE Top Ten added 0.15% to 3172.78pts while, the Minings lost 0.57% to settle at 6075.55pts. Activity aggregates improved in the penultimate session as volumes exchanged increased 65.37% to 19.92m shares while, value was 7.11% higher at 179.20m. Masimba and OKZIM anchored the value totals claiming 24.45% and 19.65% respectively.