Market Comment - 30.09.2021

ZSE retreats in month-ending session ... The ZSE halted its eleven-day rising streak to close the month of September in the red. All the four benchmark indices that we review closed pointing southwards with the All-Share Index letting go 0.07% to 8580.16pts while, The Top Ten Index shed 0.51% to 4857.20pts. The segregated Industrials lost a negligible 0.01% to 28361.54pts as the Mining Index was 6.76% lower at 6014.51pts. General Beltings headlined the winners’ pack with a 14.33% surge to end at $22.0000 post release of HY21 results. Following was TSL that rose 12.15% to $61.6818. Tobacco manufacturer BAT was 11.00% firmer at $1,990.0300 while, Cassava went up 4.30% to $31.4566 pending the release of its year-end results. Zimplow Holdings completed the gainers pack as it ticked up 3.85% to trade at $19.9723. Axia was the worst performer as it slid 13.94% to $28.6581 post release of FY21 results in which its PAT declined by 48.70% to ZWL$686mn. First Mutual Properties trailed after easing 10.68% to $12.0577. Bindura trimmed a further 9.61% to $5.1542 while, National Foods retreated 9.61% to $680.6667. OK Zimbabwe completed the top five fallers of the day with a 6.49% knock to end at $20.4255. A positive breadth of one was recorded as seventeen counters advanced against sixteen losers while, seven remained unchanged. Activity aggregates improved as volumes traded ballooned 293.40% to 8.2m share while, turnover increased 132.24% to $318.9m. Masimba was the most liquid counter as it dominated both the value and volume categories with contributions of 53.03% and 59.20% respectively. Other volume drivers were Cassava (10.17%), Axia (7.48%), Bindura (6.70%) and Medtech (5.57%). Foreign purchases stood at $4.80m while, sales amounted to $27.59m to register a net funds outflow position. Elsewhere, on the VFEX 104,550 shares with the value of USD$29,366.02 were traded in SeedCo International with no trades in Padenga. The Old Mutual Exchange traded fund gained 2.05% to $3.0571 as 13,660 units exchanged hands.