Market Comment - 30.07.2021

ZSE scratches gains in month-ending trades… The market gains persisted into Friday’s session to close the month of July in the black, post the release of the midterm budget. The primary All Share Index added 0.11% to 6818.29pts while, the Industrials put on a negligible 0.0003% to 22452.92pts. The ZSE Top Ten Index was up 0.37% to 3639.99pts while, the Mining Index rose 8.85% to 6621.17pts buoyed by gains in Bindura which topped the gainers’ list on a 13.67% jump to $5.6288. Banking group CBZ trailed on a 6.74% uplift to $95.0000 while, ART followed thereafter on a 5% rise to $8.2950. SeedCo Limited advanced 2.98% to settle at $69.0000 as 1,000 shares exchanged hands in the counter. Financial services group Getbucks capped the top five risers of the day on a 2.95% improvement to $5.7748. Other notable trades were also seen in Delta which gained 0.21% to $85.1657 having traded an intraday high of $95.0000, Innscor which went up 0.46% to $109.3901 having reached a year-high of $110.000. Apparel retailers Edgars headlined the laggards of the day on a 17.22% dip to $3.2998, following was its associated group Truworths that let go 7.12% to $2.3929. Insurer FML trimmed 3.57% to $27.0000 while, banking group NMB slipped 3.08% to $16.5000. Packaging group Nampak completed the top five shakers of the day after retreating 2.74% to $13.0000. Forty-one counters were active in the market as sixteen rose against twenty-two fallers while, three traded unchanged to leave the market with a negative breadth of six. Volume of shares traded jumped 50.40% to 7.99m shares as Medtech and Afdis claimed 56.77% and 14.78% of the aggregate respectively. Turnover enhanced 2.99% to $135.69m with Afdis emerging the top traded counter by value, claiming 69.73% to the aggregate. Foreign purchases dropped 8.74% to $15.51m while, sales plunged 70.22% to $14.79m, leaving the market with a net funds inflow of $0.73m. The exchange traded fund lost 0.03% to close at $1.9994 as 27,124 shares exchanged hands.