Market Comment- 05.03.2021

Bullish sentiment continues… A bullish sentiment continued to prevail on the ZSE spurring the All-Share Index to a 2.16% rise that took it to 4615. 87pts.The segregated Industrials added 2.27% to 15397.87pts while, The Top Ten was 2.38% higher at 2781. 34pts.The Minings was the only index to lose ground at it dropped 3.35% to 6756.94pts. Activity aggregates reflected a mixed outcome as volumes declined 30.17% to 9,367,207 shares driven by Bindura, Medtech and Econet. Turnover enhanced 6.76% to $119.33m as Innscor, Econet and Bindura emerged the value drivers with respective contributions of 27.60%,16.20% and 12.71%. A total of forty-one counters exchanged hands with two of these sailing stable. Twenty-two counters traded in the positive against seventeen decliners, to leave the market with a positive breadth. Nampak led the market risers of the day as it ticked up 19.98% to $9.8900 on firming demand while, NTS followed on a 19.93% lift to $2.4225. Turnall continued with its glitter as it surged a further 19.91% that took it to $2.5900. Brick manufacturers Willdale added 17.27% to close at $0.7627 with Fidelity putting on a further 16.88% to settle at an all-time high of $5.0000. On the downside were losses led by mining house RioZim which succumbed 12.49% to see it close at $21.0000. Selling pressure in ZHL helped drag the group lower to $1.9474 while, Axia was 3.77% down at $15.3600 where demand could be found.