Market Comment -05.02.2021

Market continues to soar… The ZSE continued to soar in Friday’s session to see all the indices in our review close in the black. The primary All Share Index put on 2.73% to 4012.47pts with the segregated Industrials adding a similar 2.73% to end at 13438.45pts. The Top Ten Index was 1.98% firmer at 2526.95pts while, the Minings edged higher at 4728.78pts after a 2.71% rise. The market spend at $101.65m was 3.98% down on the prior session with top trades being seen in Innscor, TSL and Econet accounting for a combined 56.55% of the aggregate. Volumes of the day declined 3.20% on yesterday to 6,56m shares anchored by Star Africa, Econet and OKZIM with respective contributions of 16.86%, 12.23% and 11.24%. Topping the risers of the day was Edgars which surged 20% to $1.3800, followed by Unifreight which added 19.95% to $1.1425 on continued firming demand in the counter. Proplastics rose 18.85% and settled at $23.8500 while, Lafarge was 19.75% higher at $18.800. SeedCo Limited recovered 18.35% to $35.3165 to complete the top five winners. Other notable gains were in Econet (+12.56%), Simbisa (+11.82%), Padenga (11.36%) and Cassava (9.39%). Leading the laggards of the day was Top Capitalised counter, CBZ which slumped 9.90% to $93.3950, having traded an intra-day low of $87.0000, where demand could be found. Dawn Properties was 2.23% down at $0.4033 while, Masimba lost 1.84% to $16.0000. ZHL dropped 1.78% to $2.6421 while, Hippo Valley was 1.40% lower at $100.0000.