Market Comment - 29.10.2021

ZSE scratches gains... The market scratched gains in the month closing session as the benchmark indices in our review ended mixed. The mainstream All share Index inched up a negligible 0.0008% to 11329.57pts as the Industrials eked out a 0.01% to 37508.67pts. The Top Ten Index retreated 0.55% to close at 7085.20pts while, the Mining Index slipped 0.28% to end at 6652.04pts. CFI Holdings topped the gainers’ list for the second consecutive session as the agriculture concern surged 19.89% to $59.1500. Trailing was Mashonaland which jumped 17.19% to close at $3.4741. National Foods advanced 6.67% to $1,600.0000 while, Zimplow added 5.49% to end pegged at $21.2692 apiece. Unifreight completed the top five winners of the day on a 4.29% rise to $36.5000. Other notable risers were heavy caps Delta and Econet with 1.11% and 0.48% improvements in that order. Banking group CBZ led the laggards of the day having dropped 19.79% to $92.0519 followed by NMB which trimmed 7.56% to settle at $12.0178. Medtech succumbed 4.34% to end at $0.1633 as Turnall went down 3.79% to $6.1000. Hotelier Rainbow Tourism Group capped the top five shakers of the day on a 2.45% fall to $5.7000. The market registered a positive breath as gaining stocks outnumbered fallers by a count of ten. Activity aggregates were depressed as volume of shares traded declined 19.84% to 4.01m while, turnover retreated 35.37% to $142.16m. Delta, Econet and Hippo anchored the value outturn with a combined contribution of 64.38% to the aggregate. Volume drivers of the day were Star Africa, Ariston and Medtech which claimed 33.72%, 13.99% and 11.90% apiece. Foreigners were net sellers in the session as sales stood at $46.14m against purchases of $2.41m. The Old Mutual ETF extended 1.88% to $4.5848 as 4,070 units traded. Elsewhere, no trades were recorded on VFEX.