EFE Securities •
2 years ago •
Market Commentary
Market Comment - 29.07.2021
ZSE remains upbeat… The ZSE remained upbeat in Thursday’s session s three indices in our review closed pointing northwards buoyed by gains in blue chips and mid-tier counters. The mainstream All Share Index put on 0.67% to close at 6810.80pts while, the Industrials gained 0.69% to 22452.86pts. The Top Ten Index rose 1.63% to settle at 3626.63pts while, the Mining Index retreated a further 0.56% to end at 6082.65pts. Financial services group Getbucks secured the first position on the gainers’ list rebounding 8.51% to settle at $5.6091 while, farming equipment manufacturer Zimplow added 8.38% to $14.5714. Fintech group Cassava recovered from its prior day’s losses advancing 5.71% to end at a vwap of $16.4737 while, giant retailer OKZIM followed on a 4.06% improvement to $17.0081. Conglomerate Innscor close at a vwap of $108.8912 after jumping 3.61%, having traded an intra-day high of $109.0000. Trading in the red was property concern FMP which succumbed 10.00% to $13.5000 on 6,600 shares trailed by, apparel retailers Edgars that slipped 4.25% to $3.9861. Hotelier RTG let go 3.77% to $5.1000, after trading at an intraday low of $5.0000. ART plunged 3.46% to $7.9000 while, clothing retailer Truworths retreated 3.14% to close at $2.5764. A total of thirty-four counters registered price movements distributed into fifteen gainers and nineteen losers, leaving the market with a negative breadth of four. Activity aggregates tumbled in Thursday’s session as turnover dipped 43.67% to $131.75m while, volumes plunged 39.89% to 5.32m shares. Volume drivers were Star Africa (13.21%), Cassava (12.41%), OKZIM (10.33%) and First Capital (10.23%). Delta and SeedCo Limited were the top value drivers of the day with respective contributions of 28.71% and 25.69%. Foreigners were net sellers in the session as sales stood at $49.63m while, purchases were $16.99m to result in a net funds outflow position. No trades were registered on the VFEX with Padenga closing bid at USD0.1800. The Old Mutual exchange traded fund went up 4.53% to $2.0000.