Market Comment - 31.05.2021

ZSE wraps month in slight gains… The market closed the month in the black with the primary All Share Index scratching 0.24% gain to 5428.28pts. The Top Ten was the best performer amongst the indices as it rebounded 1.36% to 3005.08pts with the Industrials adding 0.25% to 17805.83pts. The Minings lost a negligible 0.07% to 6820.54pts as selling pressure persists on the nickel miner Bindura. First Mutual Properties led the risers of the day on a 17.59% to $13.4000 while, Zimplow followed on a 10.64% to $4.7990. BAT was 9.65% firmer at $877.1429 while, beverages group Delta ticked up 3.92% to $60.9280. Banking group FBC added 3.44% to $29.9989 as it completed the top five winners set. Conglomerate Meikles increased 0.99% to $68.3263 while, OKZIM was 1.98% higher at $17.9972. Sixteen counters rose against thirteen that lost ground while, four sailed stable. First Mutual properties topped the losers of the day on a 12.80% to $25.1125 albeit closing bid higher at $26.0000 while, Simbisa slumped 11.21% to close at $35.3700. First Capital lost 3.99% to reach $3.5184 as demand continued to wane in the banking group. Milk processor Dairibord was 3.94% lower at $17.5000. ZHL dropped 3.25% to $2.9000 on selling pressure. Innscor, Masimba and Delta anchored the value aggregates of the day as the trio claimed 31.28%, 24.29% and 11.10%. First Capital and Masimba drove the volume totals on a 27.14% contribution. Foreign purchases accounted for a mere 0.07% of the day’s turnover while, sales claimed 21.62% of the same, Elsewhere, Telecom giant Econet extended the publication of FY2021 results to 30 June 2021.