Market Comment - 17.09.2021

ZSE extend gains in weekending session… The market extended gains in week-ending trades as three of the benchmark indices in our review closed pointing northwards. The mainstream All Share Index rose 0.35% to 6918.42% while, the Industrials put on 0.38% to 22811.23pts. The ZSE Top Ten Index went up 0.57% to 3811.50pts while, the Mining Index was the only loser amongst the indices on a 1.94% slip to 6104.31pts, weighed down by Bindura which dropped 0.31% to $4.5000. Insurer FML topped the winners of the day on a 16.32% upsurge to close at $25.5895, post the release of HY21 results in which the group recorded a profit of $489.81m and declared an interim dividend of $0.0482. Zimpapers trailed on a 2.25% rise to $2.9069 while, NTS improved 2.08% to settle at $8.1667. BAT held the fourth position with a 2.07% gain to $1116.6667 as Axia completed the top five gainers on a 1.92% advance to $22.5000. On the fallers’ horizon ART retreated 8.92% to $7.0000 while, Mash trimmed 5.64% to $2.7969. Star Africa declined a further 3.96% to end pegged at $1.5717 while, Masimba shed 2.55% to $39.000 reversing previous session’s gains. Turnall capped the day’s losers on a 2.48% decline to $3.9008. Price movements were registered in thirty-three counters disseminated into sixteen risers and seventeen fallers leaving the market with a negative breadth. Activity aggregates closed mixed as volumes traded dropped 18.62% to 1.75m while, value outturn garnered 72.29% to $38.82m. Volume leaders were OKZim, Bindura and Delta with respective contributions of 40.92%, 10.71% and 10.13%. Anchoring the value outturn were Delta and OKZIM which claimed 40.87% and 28.66% apiece. Foreigners were net sellers in the session with purchases amounting to $0.18m while, sales stood at $4.57m. The Old Mutual Exchange Traded Fund was 1.39% up at $2.3319 on 1,804 units. On the VFEX, Padenga added 16% to close at $0.2900 as no trades were recorded in SeedCo International.