Market Comment -11.02.2021

ZSE maintains winning streak… The market eased to marginal gains in Thursday trades despite profit taking in selected heavies. The primary All Share Index added 0.27% and settled at 4177.19pts anchored by heavy cap gains that saw the Top Ten Index put on 0.67% to 2616.46pts together with a 2.10% charge in the Mining Index that took it to 5202.46pts. Daily volumes stood at 5,561,568 shares spurred by FCA, Econet and Star Africa that accounted for a combined 49% of the aggregate. Value of trades amounted to ZWL $81,058,435 driven by Econet with 24%, OK Zimbabwe on 17% and Meikles accounting for 15% of the total. Forty-two stocks were active in the day driving 327 trades, that fell 33.27% short of yesterday’s outcome, and these were distributed into twenty-four risers, fifteen fallers and three sailing stable. Headlining the market charge was food processing and packaging giant National Foods that rallied 20% and closed at a high of $108.3000 with property group Dawn following on a 19.99% surge that took it to $0.4165. Logistics group Unifreight extended its gains with a 19.97% lift that took it to $2.2225 as Fidelity Life also posted a second successive gain with a 15.87% rise to $3.0000. Completing the top gainers of the day was news group Zimbabwe Newspapers which added 14.29% to $1.1200. The market charge was held back by losses led by Proplastics down 16.67% to $20.0000 and Dairibord which succumbed 12.53% and closed the day at $20.1176. Other loses were in DZL, down 12.53%, Meikles shedding 4.61% and First Mutual Properties falling 4.25%.