Market Comment - 08.06.2021

ZSE ekes out gains… The market eked out gains in Tuesday’s session to see the primary All Share Index scratching a further 0.34% rise to 5697.57pts. The Industrials added 0.42% to 18728.89pts as the Top Ten came out as the best performer amongst the indices as it ticked up 1.02% to 3113.91pts. The Minings were 4.67% down to 6309.74pts as Bindura continued to wane. Activity aggregates improved in the session as volumes exchanged enhanced 48.37% to 3.64m shares while, turnover advanced 157.11% to $77.14m. Delta and Padenga emerged as the top value contributors as the duo claimed a combined 77.76% while, First capital bank anchored 24.14% of the volume aggregates. A net foreign outflow position was registered as purchases of $0.89m were recorded against disposals of $60.49m. Inflows accounted for 1.15% of the day’s turnover while, outflows added 78.41% of the same. Eighteen counters ended in the positive against fifteen that went down while, six remained unchanged, leaving the market with a positive breadth. Getbucks continued to shine as it led the top risers for the second consecutive session on a 17.24% rally as 12,500 shares exchanged hands. Cafca followed on a 13.64% increase to reach $150.0000 while, BAT rebounded 12.50% to $990.0000 and hotelier African Sun rose 9.17% to $3.3883. Sugar refiners Star Africa closed 8.07% higher at $0.8971, where supply could be found. Other gains for the day were seen in Hippo +6.39%, Simbisa+1.92%, Meikles +1.64%, OKZIM+1.02%, Innscor +0.22%. On the losers’ side was RTG which led on a 15.22% slide as it closed at $1.9500 while, NMB following on a 10.16% slump that took the banking group to $11.2000. Dairibord was 9.66% lower at $23.5084 while, Nickel miner Bindura succumbed 7.13% to $5.1000 on selling pressure. TSL lost 4.76% to $40.0000 and completed the top five laggards.