Market Comment- 19.07.2021

ZSE opens week on a low note… The market opened the new week on a low note to see all the measures closing in the red. The mainstream All share Index lost 0.15% to close at 6534.96pts, as the Industrials dropped 0.11% to end the session at 21528.52pts. The Top ten slumped 0.64% to 3435.82pts while, the Minings was the major casualty amongst the Indices after a 2.89% slump that took it to 3435.82pts. Similarly, activity aggregates declined in week opener to see volumes exchanged dipping 60.90% to 5.74m shares, yielding a value outturn of $53.39m which was 56.62% down from previous session. FBC Willdale and OKZIM emerged as the value drivers of the day accounting for 14.68%, 13.25% and 13.21% respectively. Willdale again was the top volume driver claiming 35.22% of the total. Foreign participation remained depressed as inflows accounted for 7.02% of the day’s turnover while, outflows added 32.31% of the same. Elsewhere, no trades were recorded on the VFEX as SeedCo International closed with no quote while, Padenga closed with a spread of USD$0.1900-USD$0.22000 on scrappy shares. Sixteen counters traded in the positive against eighteen fallers while five remained unchanged, to leave the market with a negative breadth. Retailer OKZIM was the session’s worst performer as it rolled back to $16.4731 on a 8.43% drop while, Cable manufacturers CAFCA followed after loosing 8.33% to $16.5000. General Beltings was 7.86% down at $2.3034 with Simbisa Brands sliding 5.32% to settle at $40.6698, where demand could be established. Willdale was 4.69% down to $3.4965 and completed the top five losers set. Other significant gains were registered in Old Mutual ETF -3.45%, Delta -0.26% and Cassava -0.23%. Medtech topped the risers of the day on a 11.24% to $0.4256 with Axia rebounding 10.29% to $22.9750 as circa 55,000 shares exchanged hands. NMB was 8.18% firmer at $16.7586 while, ZHL ticked up 6.05% to $4.1939. AFDIS added 4.62% to trade at $68.0000 where supply could be found.