Market Comment - 11.06.2021

Market sustains rising impetus… The northward trajectory stretched into the week ending session to see three of the indices in our review closing in the black. The mainstream All Share Index extended 0.91% to 5891.40pts with the Industrials adding 0.93% to 19388.25pts . The Top Ten Index was the best performing Index as it surged 1.47% to 3241.52pts on the back of firming demand in heavies. The resources Index remained stable as trades were registered in Bindura. Activity aggregates declined as reflected in all measures which closed in the red. Volumes traded went down 90.17% to 5.38m shares, yielding a value outturn of $118.80m which was 91.90% down from yesterday. Delta emerged the top value drivers of the day as it claimed 51.57%, while, Art and Medtech anchored the volumes outturn on respective contributions of 22.88% and 19.52% . Leading the winners of the day was Life assurer, Fidelity, on a 19.35% surge to trade at $7.4000 while, hotelier African Sun followed on a 15.06% rise to $4.6000. Property concern Mash rebounded 11.04% to $3.2377 with Turnall ticking up 9.90% to end the session at $3.30 on firming demand. General Beltings rose 9.73% to $0.8998 and completed the top five risers set. Other notable gains in heavies were seen in Hippo, +7.66%, Econet +3.53%, Innscor +3.55%, Simbisa +3.48% and Delta +1.85%. On the fallers side was Cafca which led on a 16.67% slump that took the cable manufactures to $125.0000 with hotelier RTG trailing on a 12.94% slide that took it to $2.0051 where demand could be found. Construction group Masimba was 9.81% down at $34.9640 while FMP lost 8.56% to $16.0026 reversing prior session’s gains. Padenga which released an abridged circular considering to delist on the ZSE and relist on VFEX lost 8.39% to $31.4377 .