Market Comment - 15.10.2021

Heavy and mid-caps spur ZSE rally... The ZSE rally persisted into Friday’s trades, a session that registered twenty-seven risers against nine fallers, to see all the four benchmarks under our review close pointing northwards. The mainstream All Share Index ticked up 4.04% to 10596.85pts extending its year-to-date gain to 303.02% as the Industrial Index added 4.01% to close at 35030.66pts. The ZSE Top Ten Index rose 5.24% to 6465.03pts while, the resources Index stretched to 7354.05ptson a 7.98% rise, buoyed by gains mainly seen in RioZim that improved 16.10%. Proplastics was the market’s top gainer for the second consecutive session with a 19.69% surge to $33.5000, trailed by conglomerate Innscor that jumped 18.17% to end at a vwap of $179.7207 having traded an intraday high of $180.0000. Regional cement manufacturer Lafarge notched 18.12% to settle at $113.0000 while, fast foods group Simbisa completed the top five advancers on a 15.86% uplift to $104.2002. Leading the laggards’ pack was giant retailer OKZIM which succumbed 9.85% to $25.6669 as 266,900 shares worth $6.85m exchanged hands in the counter. Following was brick manufacturer Willdale that dipped 7.19% to settle at $3.6314. Medtech retreated 7.13% to $0.2124 while, General Beltings shed 6.14% to $2.5341. Banking group CBZ capped the top five shakers of the day on a 4.01% loss to $96.2314. Activity aggregates strengthened in the week ending session as reflected in volumes that ballooned 148.77% to 8.26m shares while, turnover swelled 303.92% to $625.82m. Anchoring the volumes traded were Simbisa, Econet and Proplastics with respective contributions of 32.41%, 13.43% and 12.10%. The trio of heavies in heavies Simbisa, Delta and Econet claimed a combined 70.46% of the value outturn. The Old Mutual ETF closed at $3.9941 having slipped 0.53% after 42,773 units exchanged hands. Elsewhere on the VFEX, Padenga went down 0.20% to $0.2450 as 1,050 shares worth USD$257.2500 traded.