Market Comment - 27.10.2021

ZSE rebounds on marginal gains ... The market rebounded in the mid-week session recording marginal gains, halting losses accumulated in the past three consecutive sessions. The All-Share Index recovered a negligible 0.03% to 11459.10pts while, the segregated Industrials gained a meagre 0.04% to 37933.03pts. The Blue-chip Index was 0.03% down to 7173.35pts while, the Mining Index slipped 1.17% to close pegged at 6823.26pts dragged down by Bindura which continued to wane. Headlining the gainers of the day was Nampak which surged 8.29% to trade at $12.9946 while, First Mutual holdings trailed on a 8.00% gain to $27.0000. Sugar manufacturer Hippo was up 7.14% to $300.0000 while, Meikles buttressed prior sessions gains on a 4.52% jump to trade at a vwap of $200.4346 having reached an intraday high of $203.0500. Zimre Holdings capped the top five winners’ list as it ticked up 4.03% to $3.7868. A total of twenty-one counters weighed on the market with Mashonaland Holdings emerging as the worst performer of the day after slumping 12.13% to $3.5150 while, Medtech relinquished prior sessions’ gains as it plunged 8.80% to $0.2000. Tissue and paper manufacturer Art holdings was 4.76% weaker at $10.0007 while, Cassava eased 4.37% to close at $43.2911. Spirit and wine manufacturer Afdis capped the top five shakers’ list as it shed 4.18% to $100.0000. Activity aggregates were mixed as turnover trimmed 3.16% to $176.7m while, volume of shares traded ballooned 139.77% to 5.4m shares. Heavies Econet, Delta and Innscor anchored the value aggregates with a combined foothold of 57.85% of the turnover. StarAfrica, Art, Medtech, OK Zimbabwe and Econet accounted for a shared 79.53% of the volume aggregate. A total of 16,500 units exchanged hands on the ETF market at $4.5214 with no trades recorded on the VFEX.