Market Comment- 17.03.2021

ZSE falls further in lighter session… The market continued to trade in the negative in much lighter trades while, gains in Bindura spurred the Mining Index into the black. The primary All Share Index slumped 2.02% to 4263.36pts in a largely bearish session that saw twenty counters trade in losses against twelve risers as three remained unchanged. The segregated Industrials were 2.09% down at 14243.29pts while, the Top Ten was the major casualty amongst the indices, sliding 2.87% to 2440.65pts. Similarly, activity aggregates declined as reflected in all measures which closed in the red. Volumes exchanged dipped 65.17% to 4,96m shares, yielding a value outturn of $59.87m which was 46.57% down from prior session. National foods, Nampak and Delta propelled the value aggregate with respective contributions of 44.69%,19.95% and 16.32%. Medtech and Nampak again anchored the volumes exchanged claiming a combined 60.28% of the total. Foreign sales and purchases were $0.24m and $15.15m respectively, as capital flight continued. General Beltings led the laggards list on a 13.16% slide to $0.5905 while, Nampak trailed after dropping 11.10% to $8.0006. Padenga was 10.65% down to $30.1457 having reached a low of $28.2000, where demand could be found. Hotelier RTG lost 10.44% to $1.97000 while, banking group NMB was 9.97% softer at $7.1150. Other notable losses in heavies were registered in Delta, Cassava, Innscor, and Meikles. Partially mitigating the day’s losses were gains led by Cafca which surged 20% to $132.000, albeit on scrappy shares. NTS followed rebounding 19.94% to $7.4600. Not to be outdone was ZB Financial holdings which recovered 16.01% to $45.8225 while, property concern Mash added 4.12% to close at $2.3000. Retailer OKZIM found its way in the risers’ zone as it rebounded 2.69% to settle at $14.9874.