Market Comment -02.02.2021

The stock market maintained gains driven by heavy caps in Tuesday trades to see the primary All Share Index strengthening by a further 0.11% and closed at 3631.58pts. The Industrials added 0.17% to 12166.64pts while, the Top Ten was 0.49% higher at 2275.20pts. The Minings were 3.52% softer at 4201.02pts on the back of losses in nickel miner Bindura. A total of forty-three counters, up from thirty-seven in the prior session, exchanged hands in today’s session of which twenty-three emerged as risers against thirteen fallers. Getbucks emerged as the top performer on a 19.91% surge and closed at $25.9000 while, Unifreight continued with its glitter as it rose 19.58% to settle at $0.6625 on firm demand. Agricultural concern Ariston trailed on a 18.41% rise to $1.6009 while, cable manufacturers CAFCA reversed previous losses on a 15.27% growth that took its price to $80.0000. Hotelier RTG recovered 12.13% to end at $1.8000 and completed the top five risers set. Leading the downside was Proplastics which slumped 19.74% to $13.8446 while, FMP lost 14.91% to settle at $5.6157. SeedCo rolled back yesterday’s gains on a 14.33% loss to $25.7000, where demand could be found with Turnall easing 8.89% to $0.9020. FML was 7.74% down at $12.0000 as demand continued to wane in the insurer. Other losses were in CBZ (-2.82%) to $103.9000 and Econet (-1.02%) to $13.9507. Volumes exchanged declined 14.23% to 4.54m shares, yielding a value outturn of $59.66m which was 193.24% up from prior session. Econet, Delta and Innscor propelled the value outturn after claiming 14.91%,14.27% and 12.96% in that order.