EFE Securities •

2 years ago •

Market Commentary

Market Comment - 01.04.2022

ZSE maintain gains as the market welcomes two new Indices... The market commenced the new month of April in gains, buoyed by selected heavy capitalized stocks that traded on the upside. The mainstream All Share and the Industrial Indices put on a similar 1.51% to end the day at 16098.23pts and 53226.68pts respectively. The Top Ten Index rose 1.87% to close at 10672.78pts while, the Mid Cap was up 0.58% at 26333.83pts. Turnall headlined the winners of the day on a 14.58% jump to $5.5000 post the release of its FY21 results. Fast foods group Simbisa garnered 10.59% to close at its all-time high of $245.0000 while, General Beltings soared 8.14% to $1.4267. Ecocash holdings improved 7.38% to $75.0000 having traded an intraday high of $80.0000 while, property concern FMP ticked up 7.20% to end at its YTD high of $11.0000. On the downside was Zimpapers that dipped 19.85% to settle at $2.6609, trailed by apparel retailers Edgars that trimmed 19.31% to end at $4.5219. Banking group FBC shed 0.97% to close at $35.6000 while, brick manufacturer Willdale retreated 0.78% to $3.0263 as it reversed previous session’s gains. CBZ capped the top five losers of the day on a 0.70% loss to $90.0586. The gainers and fallers spectrum was equally distributed at fifteen apiece. Activity aggregates were depressed in Friday’s session as reflected in volumes that plunged 58.52% to 3.82m shares while, turnover plummeted 80.43% to $161.30m. Delta was the top traded counter by value with a 54.03% contribution while, Econet followed suit as it claimed 15.29% of the outturn. Top volume drivers of the day were First Capital, Zimpapers and Delta which accounted for 56.70%, 13.65% and 9.43% respectively. Bindura was stable at USD$0.0500 as 289,224 shares traded. Datvest and Morgan ETFs gained 1.49% and 0.52% to close at respective prices of $1.9080 and $14.5879. The Datvest ETF was sole decliner amongst the ETFs after retreating 1.07% to $8.4701.