Market Comment - 06.08.2021

ZSE rebounds ahead of holidays… The ZSE rebounded in weekending session ahead of the holidays, spurred mainly firming demand seen in heavies and mid-tier counters. The mainstream All Share Index rose 2.44% to 6982.59pts while, the Industrials put on 2.48% to close at 23026.05pts. The Top Ten Index added 3.57% to settle at 3729.32pts with the Mining Index letting go 0.54% to 6087.67pts weighed down by falling Bindura which trimmed 0.83% to settle at $4.9583. Headlining the winners’ pack was fast foods group Simbisa which surged 16.71% to $47.0809, trailed by construction group Masimba which jumped 9.73% to $43.8905. Financial services group Getbucks soared 7.59% to $8.7682 while, beverages group Delta put on a weighty 6.75% to close at a vwap of $98.2175, having reached an intra- high of $100.0000. SeedCo Limited completed the top five gainers’ list on a 6.51% lift to $80.9464. Other notable gains were registered in Innscor (+6%), Econet (+3.32%) and OKZIM (+3.10%). Spirits and wines manufacturer Afdis was the worst performer of the day after a 4.57% decline to $72.5254 while, Mash followed on a 4.53% loss as it traded at $3.3314. Cable manufacturers CAFCA retreated 2.86% to end at $170.0000 while, brick manufacturers Willdale closed at $2.8754 after declining 2.77%. Banking group CBZ capped the top five losers of the day after shedding 2.07% to settle at $93.0000. Turnover was valued at $341.25m after enhancing 85.89% while, volumes traded went up 213.10% to 18.79m shares. Top traded stocks by volume were Edgars and Cassava with contributions of 41.60% and 20.21% apiece. Delta and Cassava were the top value drivers as they accounted for a shared 63.80%. Forty counters were active in todays’ session as twenty gained against fourteen losers while, six traded unchanged, to leave the market with a positive breadth of six. The Old Mutual ETF extended 0.44% to end pegged at $2.1091. Foreign participation remained depressed as inflows accounted for 19.55% of the day’s turnover , while, outflows anchored 24.99% of the same.