Market Comment - 18.10.2021

ZSE soars, as Mining Index falters... The ZSE recorded its thirteenth session of straight gains in Monday’s trades as mid-tier and heavy caps buoyed the winning streak. The primary All Share Index put on 1.94% to close at 10802.39pts while, the Industrials went up 1.98% to 35725.68pts. The Top Ten Index rose 2.26% to 6611.03pts while, the Mining Index was the only faller among the indices with a 2.64% decline to 7159.55pts. Innscor spin off Axia led the winners of the day on a 11.78% surge to $41.1337 trailed by Proplastics that extended7.46% to $36.0000. Top capitalised stock Delta jumped 6.28% to $140.3268 having traded an intraday high of $145.0000. The fourth and fifth positions of the risers’ table were held by National foods and OKZIM that gained 5.48% and 4.26% to $1,608.1250 and $26.7609 respectively. Leading the shakers’ pack was packaging group Nampak that trimmed 8.28% to $11.0063, as Banking group First Capital followed on a 5.77% loss to $3.5553. Nickel miner Bindura shed 4.49% to settle at $5.2055 as Hippo retreated 3.19% to $287.8200. Fast foods group Simbisa slipped 2.71% to $101.3804 reversing previous session’s gains. Gainers of the day outweighed fallers by a count of five. Activity aggregates weakened in the new week as volume of shares traded dropped 36.39% to 5.25m while, value outturn dipped 71.62% to $177.63m. The top traded counters by volume were Ariston, Edgars, First Capital and Nampak with respective contributions of 14.23%, 13.26%, 12.86% and 12.62%. Heavies Innscor, Delta and Econet claimed a combined 64.14% of the outturn. No trades were recorded on the VFEX. The Old Mutual ETF added a marginal 0.05% to close at $3.9962. Elsewhere, the suspended Cassava released FY21 results in which a loss after tax of $1.04m was reported and ZSE has advised that it has been given the green light to trade from tomorrow 19 October.