Market Comment -15.01.2021

ZSE extends gains in week ending session… The market extended gains in the week ending session to see all the indices closing pointing northwards. The primary All Share Index added 4.85% to settle at 2586.90pts with the Industrials putting on a 4.78% rise to 8617.80%. Not to be outdone, the Mimings was the best performer amongst the Indices as it ticked up 8.46% to 4054.04, spurred by gains in Bindura which went up 11.49% as the nickel miner closed at $3.8000, albeit trading paltry shares. The Top Ten was 6.38% firmer at 1627.56pts lifted by banking CBZ which topped the risers of the day on a 16.10% surge to close at $86.0002, having reached an intra-day high of $88.8500. Art Corporation trailed after rebounding 14.38% to $4.0008 while, crocodile skin manufacturers Padenga were 12.46% higher at $18.9511 on resurgent demand. Dairibord which is currently trading under cautionary recovered 10.86% to 14.4118. Zimplow topped the laggards of the day on an 16% slide that took it to 4.2002, where demand could be found. Property concern Mash lost 5.46% to $0.8606 while, Meikles dropped 3.92% to settle at $23.0595. Medtech was 0.41% lower at $0.0737 with Proplastics completing the set on a 0.06% slump to $8.6400. Heavy Cap Delta was also seen in the fallers zone on an negligible 0.001% drop as it closed at $24.4984. Activity aggregates declined with volumes exchanged dropping 20.89% to 13.78m shares while, the turnover was 72.85% down at $66.15m. Delta, Zimplow and CBZ anchored the value aggregates with respective contributions of 35.63%,15.41% and 14.72%. A deficit balance of payment was registered as a mere $0.39m foreign purchases was recorded against sales of $27.54m.