Market Comment - 30.06.2021

ZSE wraps month in gains as heavies wane… The ZSE wrapped the half year session in slight gains as the mainstream All share Index added 0.42% to 6194.99pts. The gains were spurred by small cap counters which continued shine on the bourse as they led the top five risers set. Fidelity and Zimpapers topped on an identical 20% that took the duo to $9.0000 and $2.7000 on firming demand. Apparel retailer Truworths was 18.78% firmer at $1.7500 with Medtech trailing on a 13.56% rise to settle at $0.2353, having traded an intra-day high of $0.2400. FMP rebounded 10.39% to $15.4545 on scrappy shares. The Industrials added 0.39% to 20391.51pts while, the Minings was the best performer amongst the indices after a 2.24% surge to 6211.49pts. The Top Ten was the only Index to close in the red on a marginal 0.58% loss to end at 3154.44pts dragged down by Delta, CBZ, Econet and Innscor Leading the laggards of the day was Simbisa Brands which dropped 9.61% to $36.0563 while, NMB lost 7.69% to $12.0000 on paltry 100 shares. Axia was 5.08% lower at $20.8820 as demand continued to wane in the counter. Agricultural concern Ariston declined 2.74% to settle at $3.8761 while, African Sun lost 2.51% as government tightens lockdown restrictions Activity aggregates reflected a mixed outcome as volumes exchanged dropped 32.92% to 13.36m shares while, Turnover rose 15.39% to $206.78m. OKZIM and CBZ emerged as top value drivers claiming 32.13% and 26.81% respectively. Medtech and OKZIM again led the volume outturn on a combined 68.93% contribution.