Market Comment -10.03.2021

ZSE swings back into the black… The market swung back into the black in mid-week session with the primary All Share Index rebounding 1.44% to close at 4640.88pts. The segregated old Industrials was 1.48% firmer at 15482.45pts with the Top Ten being the best performer at 2745.67pts after a 1.98% surge while, the Minings added 0.35% to 6768.31pts. Activity aggregates got a boost from a block trade in CBZ where 19.62m shares worth circa $1.82bn exchanged hands in the banking group. The trade accounted for 69.91% of the volume aggregates and 93.47% of the value outturn. Resultantly, volumes exchanged rose 94.11% to 28.07m, yielding a turnover of $1.95bn which was 121.50% up from prior session. Foreign participation remained depressed as a mere 0.9m worth of purchases was registered against outflows of $14.58m. Overall, twenty-seven counters traded in the positive against eight that lost ground as six sailed stable. The duo of Turnall and NTS led the risers of the day on a 19.97% to close at respective prices of $4.2000 and $3.4850. Willdale was 19.21% firmer at $1.0200 while, Medtech break its resistance level as it shored up 17.49% to reach $0.0981 on resurgent demand. Hippo valley improved 16.05% to $137.5093 and completed the top five winners’ set. Other notable gains were registered in Innscor +5.02%, Econet +2.01%, OKZIM +2.34% and Delta +0.39%. Losers for the day were led by Banking group NMB which slumped 9.61% to $6.7400 with RTG reversing yesterday’s gains on a 1.86% slide that took it to $2.0000. Agricultural concern Ariston was 1.66% down at $2.1088, having traded a low of $2.0000. Natfoods was 1.27% lower at $315.0000 while, Cassava lost 0.59% to settle at $14.8508 where demand could be found.