Market Comment - 20.09.2021

Heavies lift the market… Gains in selected heavies lifted the market in the new week as the ZSE reinforced prior session’s recovery. The primary All Share Index improved 1.28% to close at 7007.258pts breaching the 7000pts mark while, the Industrials surpassed the 23000pts mark after adding 1.30%. The Blue Chips Index put on 1.80% to close at 3880.18pts as the Minings slipped a negligible 0.01% to settle at 6103.50pts. National Foods garnered 20.00% to settle at $628.8000pts while, BAT jumped 16.41% to close at vwap of $1299.9500 on a paltry 100 shares. Life Assurer Fidelity advanced 12.50% to reach $9.0000 as Mashonaland went up 3.30% to $2.8893. Capping the top five winners of the session was telecoms giant Econet which edged up 2.80% to end pegged at $36.0690 on firming demand. The major casualty of the day was banking group NMB with a 20% decline to settle at $11.2000 trailed by Zimre Holdings that let go 10.69% to $3.3045. Star Africa slipped 3.36% to $1.5189 as Medtech trimmed 2.69% to $0.2209. Completing the top five laggards’ set was Dairibord that retreated 2.64% to $34.0000. Fifteen counters gained against sixteen that lost ground to leave the market with a negative breadth of one. Volumes traded for the day ballooned 835.99% to see 16.38m shares exchange hands, yielding a value outturn of $40.74m. Medtech was the top volume driver of the day claiming 91.27% to leave other counters scrambling for a scanty 8.73%. Value drivers of the day were SeedCo Limited (14.78%), Simbisa (12.16%), Innscor (11.55%), Cassava (10.99%) and Delta (10.87%). The Old Mutual Exchange Traded Fund grew 1.85% to $2.3751 having traded an intra-day high of $2.4000. No trades were registered on the VFEX.