Market Comment -19.01.2021

Positive trajectory continues … Resurgent demand in most selected counters across the board helped maintain the market in the black. The mainstream All Share Index added 1.76% to 2738.53pts with the segregated Industrials ticking up 1.78% to close at $9154.07pts. The Top Ten Index was 1.41% firmer at 1738.09pts while, the less active Mining Index put on 0.69% to settle at 3623.16pts. Activity aggregates declined as volumes exchanged dropped 68.77% to 6,28m shares while, turnover went down 40% to $61.37m. Econet and Delta were the most sought-after stocks of the day claiming a combined 51.59% of the volume aggregate and 70.57% of the turnover. Axia was the other notably traded counter as it anchored 6.32% of the value total. Foreign purchases accounted for 0.13% of the value outturn while, disposals added 48.05% of the same. Lafarge was the session’s best performer after charging 19.09% surge to see it closing at prices of $13.1000, albeit on paltry shares. Proplastics followed on a 14.15% rise and closed at $10.0500 while, TSL added 13.87% to $16.0000 on firming demand. Dawn properties and Axia completed the top five winners on respective gains of 13.79% and 12.53%. Topping the losers of the day was Art Corporation which slumped 2.32% to $4.0048 while, banking group First Capital lost 1.36% to $1.0387. Heavy cap Padenga found its way in the loser’s zone as it dropped 1.12% to $19.0001, where demand could be established. Zimplow was 1.12% down at $4.200 while, Masimba lost 1.02% to $11.0368.