EFE Securities •

3 years ago •

Market Commentary

Market Comment - 31.03.2021

ZSE closes first quarter session in losses… The market closed the last session of the first quarter in losses on the back of profit taking in most counters across the board. The Top Ten was the only Index to close in the positive as it added 0.20% to 2610.46pts, spurred by Econet, Delta and Simbisa. The primary All Share Index eased 0.33% to 4488.78pts with the Industrial Index sliding 0.27% to end at 14740.05pts. The less active Minings were 3.94% softer at 5315.39pts. Activity aggregates reflected a mixed outcome the session as volumes exchanged dropped 21.60% to 7.37m shares while, turnover rose 40.67% to $125.52m. Econet was the most sought-after stock of the day as it accounted for both the volume and value aggregate, claiming 28.79% and 38.57% respectively. Padenga and Delta claimed a combined 18.02% of the value total. Foreign participation remained depressed as inflows accounted for a mere 0.01% of the turnover while, disposals claimed 27.79% of the same. Mining house RioZim topped the risers of the day on a 17.02% to $23.8714 while, Simbisa Brands trailed after ticking up a further 11.73% to close at $39.8153. Getbucks was 11.73% firmer at $0.4000 with Telecom giant adding 8.88% to $22.7991, albeit closing well offered at $22.0000. Life assurer Fidelity rebounded 7.94% to $5.6000. A negative market breadth was registered as twenty-one counters traded in the negative against nineteen that went up as three remained stable. Construction group Masimba led the losers’ list on a 15.75% drop that took it back to $16.0000 where demand could be found. Nickel miner Bindura lost 12.30% as it closed at $4.3824 while, FML was 11.89% lower at $20.0000. Packaging group Nampak dropped 11.65% to end at $7.5100 with milk processor Dairibord slumping 10.55% to close at $15.5500 and completed the top five losers list.