Market Comment - 11.10.2021

ZSE extend gains in new week... The market commenced the new week in gains as the All Share Index put on 2.14% to close at 9774.81pts while, the Industrial Index added an identical 2.14% to 32,319.52pts. The Blue-Chips Index advanced 2.59% to end at 5880.80pts as the Mining Index rose 1.56% to 6649.72pts. Fast foods group Simbisa headlined the winners of the day on a 12.33% surge to $90.0005 trailed by Dairibord on a 10.47% jump to $41.9794. Packaging group Nampak improved 9.09% to $12.0000 as beverages group Delta enhanced 6.18% to $123.1326. Zimpapers capped the top five risers’ set on a 4.71% improvement to $2.7400. Brick manufacturers Willdale was the worst faller of the day on a 4.42% to settle at $4.1997, following was Proplastics that let go 3.98% to $26.8372. Banking group NMB trimmed 3.45% to $14.0000 as conglomerate Meikles retreated 2.11% to $114.9600 having traded an intraday low of $111.0000. Hotelier African Sun capped the top five shakers of the day on a 1.14% loss to $10.7919. Gainers of the day outnumbered fallers by a count of eighteen leaving the market with a wide positive breadth. Activity aggregates were improved as volume traded expanded 74.81% to 13.15m shares, yielding a turnover of $938.31m which was a 42.75% increase. Anchoring the volumes traded were OKZIM, Simbisa and Hippo with respective contributions of 34.06%, 25.38% and 10.22%. Value drivers of the day were Hippo, Simbisa and OKZIM which accounted for a combined 81.15% of the outturn. Foreign purchases amounted to $216,000.00 as investors cherry picked Simbisa while, sales stood at $65,960,371.95. A total of 52,441 units worth $209,764.00 in Old Mutual Exchange Traded Fund traded at an unchanged price of $4.0000. No trades were recorded on the VFEX in Padenga and SeedCo International. Elsewhere, CFI ended at $0.7075 with no trades registered in the counter, closing firmly bid at $41.0500 with no offers, on its debut after four years of suspension.