Market Comment- 25.03.2021

Heavyweights lift the ZSE… Top capitalised counters helped lift the market as resurgent demand was witnessed on the board in Thursday trades. Resultantly, the All-Share Index went up 3.08% to 4,285.91pts while the Top Ten Index edged higher at 2,442.66pts after a 3.65% rise. The Industrials ticked up 3.17% to 14,043.07pts with the less active Minings ending in the negative after a 1.35% drop took it to 5,734.11pts on falling Bindura. The duo of Hippo Valley and NTS topped the gainers of the day on 20% jumps to settle at respective prices of $132.0000 and $9.6000. Simbisa Brands firmed up 18.64% to $33.7210 while, FMP was 11.22% higher at $5.4500. Telecom giant Econet rebounded 10.66% to $17.9490 and completed the top five list. Other significant gains were seen in Padenga +7.20%, Axia +8.61%, Innscor +1.64% and Delta +1.55%. A positive market breadth was recorded as twenty-two counters rose against fifteen that went down while, three sailed stable. Construction group Masimba Holdings led the losers list on a 8.16% drop that took it to $14.2353. Agricultural concern Ariston trailed on a 6.79% loss as it closed at $2.0040 while, Dairibord softened 5.33% to $17.2485 where demand could be found. Medtech which is currently trading under cautionary lost a further 3.25% to $0.1160 while, Mash was 2.93% lower at $1.72485. Activity aggregates declined as volumes traded dropped 4.72% to 6.11m shares while, turnover fell 38.85% on yesterday. Delta, OKZIM and Padenga emerged the top value drivers of the day as the trio claimed a combined 54.34% of the total. Foreign purchases accounted for 2.57% of the turnover while, disposals claimed 31.03% of the same.