Market Comment - 27.05.2021

Heavy Cap Delta helps maintain market in the black… Firming demand seen in the heavy cap Delta helped push the market upwards in Thursday’s session. The beverages group that cancelled its briefing slated for today closed at $66.6728, having traded an intra-day high of $69.0000. Other gains in heavies were seen in Cassava which rose 0.53% to $16.4000, Innscor that added 0.12% to $82.2557 and Padenga that rose 0.09% to $32.0397. Resultantly, the Top Ten Index surged 1.60% to close the session at 3066.22pts. The primary All share Index was 0.51% firmer at 5508.92pts while, the Industrials were 0.58% up to 18082.66pts. The Minings extended losses to 6660.43pts after a 3.66% slide as Bindura continued to wane. A positive market breadth was registered as twenty counters traded in the positive against fourteen that went down while, six sailed stable. Getbucks led the winners of the day on a 20% surge as it closed at $2.64000 , while Zimplow rebounded 12.77% to settle at $6.7919, despite selling pressure on the counter. Construction group Masimba ticked up 10.87% to $32.9625 while, agricultural concern Ariston extended 8.34% to reach an all-time high of $3.1000. On the laggards side was FMP which reversed its prior gains on a 19.50% loss that took the property stock to $11.2302. ZHL was 10.32% softer at $2.6903 while, hotelier RTG lost 7.57% to $2.3100. Nickel miner Bindura lost 5.46% to $5.5435 on waning demand as Telecom giant Econet found its way in the top five losers set on 4.78% decline to $24.7523 as selling pressure continued. A favorable balance of payment was registered for the second running session as inflows of $24.32m were recorded against outflows of $8.744m