Market Comment -09.02.2021

Market sustains gains… The ZSE maintained a positive momentum in Tuesday’s session with the primary All Share Index recording a year high of 4155.80pts after a 0.40% rise. The Industrials were 0.47% firmer at 13923.21pts while, the Top Ten was 0.31% up from prior session as it ended at 2594.28pts. The less active Mining Index was 3.80% softer at 4800.50pts on the back of weakening demand in Bindura and RioZim. Activity aggregates declined on yesterday as seen in the day’s turnover which went down 30.72% to $85.69m while, volumes exchanged dropped 40.37% to 6.29m shares. The risers and fallers spectrum were equally distributed at eighteen in a session where forty counters were active. A deficit balance of payment was recorded as inflows of $0.81m were registered against outflows of $45.27m. Topping the risers of the day was Unifreight which gained a further 20% to see it close at $1.5450, albeit on scrappy shares. Following was National foods which ticked up 19.97% as it closed at $86.5000 on firming demand. Lafarge was 19.95% higher at $22.5500 while, Nampak rose 19.86% to $5.5400. Art Corporation added 17.63% and settled at $7.0000. Other gains in heavies were seen in Econet, Delta and Padenga. Leading the shakers of the day was property concern Dawn which succumbed 19.98% to $0.3200 with ZHL easing 18.81% to settle at $2.0347. Mash rolled back yesterday’s gains on a 18.52% loss to close at $0.9452 where demand could be found. Mining house RioZim dropped 10.55% to $16.0000 while, Simbisa was 7.36% down to $22.1321 as profit taking took its toll on the counter.