Market Comment - 15.07.2021

ZSE stretches further… The ZSE extended gains in Thursday’s session, to see all indices in our review setting new all-time highs. The segregated Industrials led the pack of indices as it gained 1.11% to 21607.97pts while, the primary All Share Index was 1.10% firmer to settle at 6559.97pts. The Mining Index recorded a slight gain of 0.10% or 6.55pts to settle at 6251.51pts, weighed down by waning Bindura. The Top Ten scratched a 0.21% gain to settle at 3484.85pts. SeedCo Limited topped the risers set for the second session running after charging 19.73% to settle at $79.6561, albeit closing on weak demand. Zimplow was 13.05% up at $15.8850 while, Dairibord buttressed prior sessions’ gains on a 10.75% rise that took it to $36.7273. Small cap Medtech continued to shine as it rose 10.22% to close at $0.3214, having traded an intra-day high of $0.34000 while, Proplastics added 7.31% to $27.9000 where supply could be found. On the downside was General Beltings which led the fallers after succumbing 5.20% to close at $2.5478. Brick maker Willdale inched 3.91% lower to $3.3565 while, Ariston was 3.89% weaker to $3.4001. Unifreight eased 3.52% to settle at $28.9432 while, Nampak was 2.79% down to $13.0267 on selling pressure. A wide positive market breadth was registered as twenty-five counters gained against twelve fallers while, four sailed stable. Activity aggregates declined with volumes exchanged dropping 57.80% to 7.47m shares while, turnover went down 37.40% to $105.83m. Medtech led the volume aggregates claiming 58.58% while, Delta emerged as the value driver contributing 36.75% of the total. Foreign participation remained depressed as inflows accounted for 24.03% of the day’s turnover while, disposals added 10.92% of the same. Elsewhere, Padenga registered its first trade on the VFEX as it traded 3,978 shares at vwap of USD0.1991 while, SeedCo International traded 10,797 shares at USD0.2525.