Market Comment -28.01.2021

ZSE in marginal losses… The ZSE registered losses for the second consecutive session to see the primary All Share Index losing a further 0.61% to 3558.13pts with the segregated Industrials easing 0.63% to 11893.87pts. The Minings were 0.26% firmer at 4687.63pts with the Top Ten dropping 0.91% to 2197.66pts. Property concern Mash led the losers of the day on a 7.96% slump to $0.7548 while, OKZIM was 7.53% lower at $14.8467. Heavy cap Seedco Limited found its way in the fallers zone after a 4.96% slide to see it ending at $30.5091, where demand could be established. Proplastics lost 4.85% to $14.9972 while, Star Africa was $0.2823 on waning demand. Other losses in heavy caps were registered in Econet and Padenga. Six winners were recorded against eighteen laggards as one remained unchanged, leaving the market with a negative breadth. Activity aggregates declined in the session with volumes traded dropping 76.10% to 6,54m shares while, turnover rose 71.13% to $93.44m. Econet was the most liquid counter for the second session running as it propelled both the volume and value aggregates with 55.13% and 55.06% in that order. The other notable trade was in Delta which claimed 14.96% of the turnover. Foreign purchases rose 68.28% to $3.53m while, sales dipped 98.23% to $0.54m. Local purchases accounted for 96.23% of turnover while, sales claimed 99.43% of the same. Mitigating losses were gains led by Unifreight which firmed 20% to $0.4620 while, Lafarge put on 19.85% to $15.7000. Simbisa and RTG rebounded 7.06% and 6.70% to $18.6434 and $1.50000 respectively, with Turnall completing the top five set on a 6.42% rise to $1.0099.