Market Comment- 13.05.2021

Bullish sentiment prevails… The bullish sentiment prevailed in Thursday session with all the indices in our review closing on new highs. The primary All Share Index ticked up 3.09% to 5175.11pts with the Industrials adding a further 3.14% to 17015.97pts. The Top Ten was 3.62% higher at 2964.21pts while, the resources Index added a negligible 0.02% to 5639.57pts. Zimre Holdings was the sessions best performer on a 19.90% surge to $2.9175 with Proplastics following on a 19.87% rise to $30.3000. Hippo charged 15.40% to $144.2452 while; Star Africa added 10.56% to $0.7673. Beverages group Delta surged 8.37% to close at $60.3098 on firming demand and completed the top five risers. Other significant gains were seen in OKZIM +5.87%, Innscor+3.42%, Meikles+3.02%, Econet +2.92% and Axia+2.04%. Thirty-one counters traded in the positive against five that went down as five remained unchanged, leaving the market with a wider positive breath of twenty-six. Banking group CBZ was the worst performer of the day having succumbed 5.88% to $80.0000 with Art Corporation continuing to lose its glitter on a 2.63% loss that took it to $7.0006. Simbisa rolled back to $39.7801 on a 0.39% slide while Cassava lost a negligible 0.08% to close at $14.2931, where demand could be found. Padenga was 0.03% lower at $35.9830 on the back of selling pressure. Activity aggregates improved in the session as volumes enhanced 160.98% to 9m shares, yielding a value outturn of $235.95m which was 153.80% up on yesterday. Delta, Innscor and Econet emerged the top value drivers claiming 20.23%, 19.02% and 18.25% in that order. Bindura and Econet propelled the volumes of the day on 21.48% and 20.21% contributions respectively.