ZSE sustains gaining momentum 21/04/21

Author Name
Tinashe W Duma
Stock Market 2 weeks ago
  • The local bourse firmed in the mid-week session leveraging on rejuvenated demand in market heavies, extending the winning streak to 4 consecutive sessions.
  • The All Share Index inched up by 1.4% to close at 4414.04 points, inversely performing to global shares which fell on Wednesday as concern about a resurgence in coronavirus cases in some countries cast doubt on the strength of global growth and demand for crude oil.
  • Small caps continued on a downward spiral, weighing on monthly performance which still hovers in the negatives.
  • Meanwhile, the local unit narrowly appreciated against the greenback by 0.0001% as at the close of the latest auction trades.
  • A total of 40 counters exchanged hands in mid-week session from which 11 sailed stable while 20 counters emerged risers.
  • Padenga took its gains to a 5th straight session adding 14.52% to close at 3000.46c while ARTD surged by 9.27% to settle at 601c.
  • Ariston stretched its gaining streak to 3 consecutive sessions notching 8.94% to settle at 185.19c, followed by Medtech which buttressed its prior session gains on adding 8.17% to close at 11.39c.
  • Dairibord notched by a further 7.46% to settle at 1501.10c, capping off the Top 5 risers set.
  • On the downside, a pack of 9 stocks partially weighed on the market. BNC extended its losing momentum to a 6th straight session easing by -11.19% to close at 402.38c as global economic developments weigh on commodity prices.
  • Masimba countered its prior session gains easing by -9.26% to settle at 1724.04c while financial stock, First Capital Bank, tumbled by a further -8.46% to close at 210c.
  • AfDis partially reversed its prior session gains, falling by -4.17% to close at 4600c.
  • Unifreight extended its prior session loss by -3.85% to settle at 1250c, capping off the Top 5 laggards pack.
  • Total turnover declined by -74% in Wednesday’s session to ZW$104.84 million against a -53% fall in volumes. Delta led turnover contributors at 26% of the aggregate and was trailed by OK Zim, Innscor, Cassava Smartech and Meikles in that respective order.

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