Market Comment -25.02.2021

Market surge continues… Gains seen across the board persisted into the penultimate session of the month. The primary All Share Index was 2.34% up at 4171.30pts while, the old Industrials added 2.28% to 13891.00pts. The Minings was the best performer amongst the indices as it ticked up 5.07% to 6621.75pts while, the Top Ten followed on a 3.33% surge to 2513.90pts. Contrastingly, activity aggregates went down as reflected in all measures which closed in the red. Volumes exchanged declined 68.42% to 3.98m shares, yielding a value outturn of $48.66m which was 45.67% down on yesterday. Econet, Innscor and Hippo emerged the top value drivers after claiming 22.95%,12.91% and 12.58% respectively while, First Capital and Econet propelled the volume totals, accounting for a combined 37.38%. Foreign participation remained depressed as a nil inflow position was recorded against outflows of $10.24m. Tyre service company NTS continued to firm up as it led the risers of the for the second consecutive session after surging 19.94% to and all time high of $0.9775 with Fidelity adding 17.65% to $3.0000. Unifreight followed on a 19.96% rise as it closed at $6.6200 on scrappy shares. Hippo Valley was 19.57% firmer at $143.9514 with penny stock General Beltings adding 18.60% to settle at $0.2972. Turnall put on 15.38% to $1.5000 and completed the top five gainers. A total of twenty-five counters recorded gains against ten that went down as three traded unchanged, leaving the market with a positive breadth. Leading the laggards of the day were losses seen in AFDIS which slumped 10% with Mashonaland Holdings following on a 9.86% drop as it closed at $1.1760. Proplastics was 5.80% down at $23.0000, where demand could be found while, ZHL eased 2.16% to close at $2.0933. FMP lost 1.24% to $5.6900 and completed the top five losers.