Market Comment - 08.11.2021

Positive sentiment endures... The ZSE commenced the new week in marginal gains as selected heavies traded mixed in the session under review. The primary All Share Index extended 0.97% to 11961.58pts while, the Industrial Index added an almost similar 0.98% to close at 39608.59pts. The Blue-chips Index put on 1.32% to end at 7612.06pts as the Mining Index recovered 0.26% to 6859.46pts. Fintech group Cassava headlined the winners’ pack on a 10.54% surge to end at a vwap of $49.7686, trailed by packaging group Nampak which advanced 8.28% to $11.9891. Hippo went up 7.96% to close at $325.0000 as Zimplow rose 5.27% to settle at $22.0238. Agriculture concern Ariston completed the top five risers of the day on a 4.11% gain to $3.6974. The shakers of the day were led by conglomerate Meikles which dipped 14.74% to $205.5789 reversing prior sessions’ gains as General Beltings slipped 11.00% to $2.0025. Banking group First Capital shed 5.61% to $3.3001 while, logistics group Unifreight let go 2.63% to trade at $37.0000. Turnall capped the top five fallers of the day having trimmed 2.58% to $5.8500. Thirty-seven counters were active in the session distributed into eighteen risers, twelve losers and seven that traded at previous prices, as the market closed with a positive breadth of six. Volumes traded were 0.12% down to 5.29m shares while, turnover improved 6.37% to $170.76m. The top traded counters by volume were Medtech (29.11%), OKZIM (18.22%) and Cassava (14.60%). Top value drivers of the day were Cassava, Econet, Innscor, OKZIM and Delta which contributed a combined 84.40% of the outturn. Local purchases claimed 98.85% of the turnover as sales accounted for 89.38% of the same. The Old Mutual ETF grew 4.76% to $4.6924 having traded a high of $4.7000. No trades were recorded in Padenga and SeedCo International on the VFEX. Elsewhere, NYSE listed counter Caledonia Mining published its pre-listing statement in which the mining firm seeks to list US$5m worth of depository receipts on the Victoria Falls Stock Exchange.