Market Comment - 21.09.2021

Market gains widen in Tuesday's session... The ZSE continued on an upward trajectory for the fifth consecutive session, as four of the indices we track closed the day in the black. The benchmark All Share Index put on 0.16% end at 7018.48pts while, the ZSE Top Ten Index was 0.03% up at 3881.30pts. The segregated Industrials was 0.13% firmer at 23137.29pts while, the Resources Index recovered from prior sessions losses as it rebounded 2.87% to 6278.64pts. Turnall led the gainers of the day on a 7.67% surge to close at $4.2000 while, First Mutual Holdings trailed after jumping 7.05% to $26.8438. Agricultural concern Ariston advanced 6.12% to $3.3000 while, Truworths gained 5.19% to end pegged at $1.9987. Bindura halted prior sessions' losses to end the day at $4.7191 on a 4.89% uplift, having traded an intra-day high of $5.0000. Brick manufacturer Willdale was the worst performer of the day as it dropped 7.95% to $3.0037, followed by packaging group Nampak that trimmed 7.86% to close at $11.9778. Proplastics plunged 7.41% to end trading at $25.0000 as banking group CBZ declined 2.75% to $82.6653. General Beltings capped the shakers list as it shed 1.62% to trade at $1.8200. The market recorded a positive breadth of nine as twenty counters gained while, eleven declined and seven sailed stable. The market recorded a turnover of $136.22m as 5.1m shares exchanged hands. Bindura and Cassava led the volume contributors with a combined foothold of 36.06%, trailed by Medtech, Star Africa and Innscor that had 8.85%, 6.89% and 6.68% respectively. The turnover contributors of the day were Innscor, Delta and Cassava with respective contributions of 27.00%, 21.79% and 15.19% of the outturn. The Old Mutual Exchange Traded Fund gained 4.11% to $2.4728 as 41,742 units exchanged hands. Elsewhere, on the VFEX, Padenga recorded two trades as it rose 3.45% to close at US$0.3000 while, no trades were registered in Seedco International.