Market Comment - 06.10.2021

ZSE upsurge continues... The market remained firm in midweek session as witnessed by all the four indices that closed in the black. The mainstream All Share Index was 3.14% higher at 9179.57pts while, the Top Ten Index gained 4.47% to 5427.23pts. The Industrial Index rose 3.11% to close at 30324.56pts having surpassed the 30000pts mark. The Mining Index made a bold 5.90% leap from yesterday to close at 6829.68pts with gains propelled by Riozim. National Foods maintained the top spot in the risers list as it made a 20% jump to $1200.0000 as miner Riozim traded at $30.0000 after a similar 20% rise. Conglomerate Innscor added 8.77% to $148.9526 while, TSL went up 8.77% to end pegged at $69.5592. Banking group CBZ completed the top five day’s risers on a 8.38% surge to $97.5947. Leading the losers of the day was Nampak with a 12.69% drop to $10.2491 as brick manufacturer Willdale shed 4.64% to $4.2675. Mashonaland Holdings eased 4.55% to $4.2845 while, Zimre Holdings declined 3.22% to end at $3.7615. Clothing apparel Edgars completed the top five fallers’ set as it let go 2.82% to $4.4837. The market registered a negative market breadth of three as seventeen counters rose and twenty traded in the red. Activity aggregates were depressed as volumes of shares traded went down 5.43% to 4.49m while, turnover also decreased 36.04% to $195.95m. Delta, OKZim and SeedCo contributed a combined 65.96% to the value outturn as Innscor and FBC both added 7.86% and 5.45% respectively. Anchoring the volume aggregate were OKZIM, Delta, Medtech, FBC and SeedCo Limited that claimed 29.86%, 15.56%, 10.09%, 8.06% and 5.43% apiece. Foreign purchases dipped 68.99% to $2.57m as sales retreated 99.19% to $1.01m. Elsewhere, no trades were registered on the VFEX while, the Old Mutual ETF lost 2.11% to $4.0076 as 83,885 units exchanged hands.