EFE Securities •

1 year ago •

Market Commentary

Market Comment - 01.08.2022

Market falters as the new month unfolds... The market commenced the month of August in marginal losses as the All-Share Index slipped a negligible 0.0048% to 16594.12pts. The Mid Cap Index trimmed 1.73% to 32449.08pts while, the ZSE Agriculture Index let go 1.71% to 91.39pts. Contrastingly, the Blue-Chip Index put on 0.62% to end at 10329.78pts, spurred mainly by Econet. Banking group NMB led the fallers’ pack as it dropped 12.94% to $20.0235. Following was property concern FMP that shed 11.75% to $9.0000 as TSL went down 10.00% to end at $90.0000. Apparel retailer Truworths slumped 8.48% to $2.0135 while, brick makers Willdale tumbled 7.56% to settle at $2.3342. Partially offsetting today’s losses were gains in NTS that jumped 14.63% to $11.7500. Media group Zimpapers rose 8.89% to $5.0000 as construction group Masimba climbed 8.31% to $47.0625. Telecoms giant Econet soared 8.00% to close at a vwap of $169.8675 having traded a high of $176.0000. Dairibord capped the top five winners of the day on a 7.36% gain to $32.5781. The market closed with a negative breadth as gainers outnumbered fallers by a count of three. Activity aggregates were depressed in Monday’s session as volumes dipped 90.19% to 5.32m shares while, turnover plunged 14.64% to $425.12m. The trio of Econet, FBC and OKZIM claimed a combined 84.17% of the value outturn and 88.01% of the volume total while, no trades were registered on the VFEX. The MIZ ETF improved 13.63% to $1.4200 as the Datvest ETF extended 5.33% to $1.7000. The Old Mutual ETF tripped 13.59% to end at $6.6000 while, Morgan MCS slid 0.40% to $27.4533. A cumulative of 39,261 units worth $130,337.06 exchanged hands in the ETFs.