ZSE rebounds in week-opener…
The market rebounded in the new week as three of the benchmark indices in our review closed in the black. The primary All Share Index gained 1.20% to 1,578.34pts while, the Industrial Index put on 1.27% to 5,216.45pts.
The blue chips index rose 1.53% to close at 1,028.20pts, buoyed by selected heavies. Star Africa led the risers’ pack on a 19.86% surge to $0.3000 on scrappy shares while, apparel retailer Truworths followed on a 19.83% jump to $0.2085.
Retailer OKZIM firmed 13.82% to $5.5000 on firming demand while, Axia improved 8.35% to $4.9000. Crocodile skin producers Padenga advanced 7.13% to $14.7200 reversing previous session’s losses.
Shakers of the day were headlined by banking group NMB which trimmed 10.34% to $2.6000, trailed by ZHL which let go 3.45% to settle at $2.8000.
Nickel miner Bindura shed 1.43% to $3.4500 dragging the Mining Index down to 3,391.21pts. Conglomerate Innscor capped the top five fallers’ list on a 0.68% slide to $25.0231.
A positive market breadth of sixteen was recorded as twenty counters gained against four losers while, nine traded at previous prices.
Activity aggregates faltered in Monday’s session as volumes traded plunged 67.69% to 7.12m shares while, turnover retreated 38.82% to end at $30.97m.
Top volume drivers of the day were Econet (33.35%), First Capital (17.88%), Masimba (16.56%) and Cassava (11.22%). Econet and Delta were the top value drivers with respective contributions of 30.29% and 22.77%.
Elsewhere, CAFCA reported a PAT of $466.69m for its FY20 results with no dividend declared for the period. Foreign inflows amounted to $2.10m while, outflows stood at $17.06m to register a net funds outflow of $14.95m. -efesecurities
