Market Comment- 14.04.2021

Market tumbles further…. The market slid for the seventh session in a row reflecting the All-Share Index tumbling 0.86% to end at 4160.12pts while, the Industrials and Minings lost 0.88% and 0.01% to settle at 13632.40pts and 5535.77pts respectively. Leading the losses was Hippo Valley that trimmed 14% to $125.4743 followed by the apparel retailer Edgars which slipped 10.43% to settle at $2.5116. Ariston, Proplastics and National Tyre services lost 5.71%, 4.34% and 3.85% to close at prices of $1.6023, $20.9500 and $10.0000 apiece. Other losses notable losses were seen in Cassava (-2.47%), Innscor (-1.82%), Delta (-1.03%), and CBZ (-0.83%). Mitigating the market loses were gains seen in NMB (+11.04%), ART (+7.40%), Simbisa (+6.06%), Nampak (+5.87%) and Mashonaland Holdings (+5.80%). Volumes traded fell by 59.7% to 3.65m shares producing a value outturn of $57.16m. Medtech dominated the volumes with a 24.44% with other notable drivers of the aggregate being First Capital bank (13.72%), Delta (12.91%) and Ariston (9.04%). The market spend was 68.11% softer for the day at $57.18m with top values being exchanged in Delta, Innscor and CBZ. Foreign purchases fell 97.74% to $1.8m while, foreign sales dipped 81.17% to $16.4m.