EFE Securities •

8 months ago •

Market Commentary

Bullish sentiment prevails…

The market maintained a bullish sentiment as the primary All Share Index jumped 5.62% to 145,437.37pts while, the Blue-Chip Index climbed 6.80% to 71,725.12pts. The Mid Cap Index rose 3.31% to 473,032.07pts while, the Agriculture Index grew 1.06% to 587.51pts. Zimre Holdings Limited headlined the winners of the day on a 15.00% surge to $74.7500 while, RioZim firmed up a similar 15.00% to settle at $690.0000. Banking group NMB advanced 14.97% to close pegged at $184.0500 while, plastic manufacturer Proplastics jumped 14.89% to $531.9000. Turnall Holdings capped the top five gainers list of the day on a 12.23% uplift to end pegged at $17.9565. In contrast, milk processor Dairibord led the laggards of the day on a 6.26% slump to $560.0000, followed by retailer OKZim that eased 0.51% to $144.2768. Fintech group Ecocash Holdings completed the losers’ pack on a 0.47% decline to settle at $141.0352. The market closed with a positive breadth of seventeen after twenty-one counters registered gains against four that faltered. Foreign purchases were $600,000.00 while no foreign sales were recorded for the day.

Activity aggregates were mixed in the session as volume traded ballooned 14.01% to 4.59m shares while, turnover succumbed 15.54% to $2.90bn. Top volume drivers of the day were Econet (51.15%), OKZim (31.96%), Delta (7.93%) and Tanganda (3.26%). The trio of Econet, Delta and OkZim highlighted the value of the day after contributing a combined 91.16% to the outturn. Amongst the ETFs, Datvest and MIZ gained 0.21% and 0.69% to close at $5.7118 and $7.3100 respectively. Old Mutual ETF inched up 4.28% to $22.5346 as 12,346 units exchanged hands in the name. The Tigere REIT rose 11.37% to $222.8310 with 15,976 units exchanging hands.