Market Comment - 30.04.2021

Market closes session in the black… The ZSE closed the month end session in the black as Minings continued to wane. The All Share scratched 0.19% gains to end at 4641.11pts with the old Industrials putting on 0.33% to 15260.59pts. The ZSE Top Ten Index was 0.23% firmer at 2660.37pts while, the resources Index lost 8.13% to 5061.28pts weighed down by nickel miner Bindura which topped the losers list on a 11.40% slide that took it to $4.4000, having reached an intra-day low of $4.0000. Medtech which is currently trading under cautionary dropped 7.31% back to $0.1204 while, Nampak reversed it prior sessions gains on a 4.06% loss to $18.2295. Dairibord which reported a loss in inflation adjusted terms in its FY20 results, was seen in the fallers zone having succumbed 2.79% to settle at $15.5044. Agricultural concern Ariston was 2.23% lower at $1.8730. On the upside was hotelier African Sun which rebounded 19.95% to $2.0250 with Zimplow following on a 7.99% rise to $6.5000. Zimre Holdings Limited added 7.90% to $2.0780 while, Simbisa brands ticked up 4.74% to $31.4242. Banking group NMB recovered 3.67% to close the session at $11.3000. Other notable gains were in Econet +1.72%, Innscor +1.36% and Padenga +0.20%. Activity slightly improved in today’s session with volumes exchanged ballooning 241.08% to 19.72m shares, yielding a value outturn of $392.69m which was 255.97% up on yesterday. FML was the most liquid stock propelling both the volume and value aggregates claiming 71.07% and 81% respectively. Foreign purchases accounted for 11.80% of the day’s turnover while, disposals added 85.71% of the same.