EFE Securities •

1 year ago •

Market Commentary

Market Comment - 01.11.2022

Heavy and mid-cap counters lift the market... Heavy and mid-cap counters lifted the market on the first session of November. The primary All-share Index went up 0.78% to 15189.23pts while, the ZSE Top Ten Index rose 0.76% to 8945.41pts. The Mid Cap Index edged up 0.84% to end pegged at 33537.05pts as the ZSE Agriculture Index inched up 0.03% to 76.46pts. The top five winners of the day were led by mining house Riozim which jumped 11.54% to $145.0000 as microfinance group Getbucks climbed 7.98% to $18.9500. Property company Mashonaland Holdings rose 6.22% to $8.0000 while, conglomerate Innscor increased 4.52% to $340.2306. Telecoms giant Econet completed the top five risers’ set on a 2.13% surge to $88.8778. The worst performer of the day was Zimre Holdings that dropped 1.95% to $5.0004 while, Ecocash Holdings lost 1.72% to settle at $43.2218. Retailer OK Zimbabwe trimmed 1.10% to close at $31.9936 as bankers ZB Financial slipped 0.44% to $$114.5000. Fast food entity Simbisa capped the top five shakers of the day on 0.38% fall to $240.0205. Gainers outnumbered losers by a count of five as the market registered a positive breadth. Activity aggregates enhanced as turnover soared 102.50% to $263.42m while, volumes ballooned 195.57% to 1.85m shares. The troika of heavies in Econet, Delta and Simbisa dominated the volume and value categories with combined contributions of 88.15% to the former and 90.79% to the latter. A total of 41,305 units worth $142,129.62 exchanged hands in the five ETFs. Morgan & Co MIZ and Datvest ticked up 3.35% and 0.17% to close at $1.1400 and $1.7483 apiece. Morgan and Co MCS declined 4.16% to $21.0000 while, Old Mutual succumbed 3.62% to $5.2173. Padenga was the only counter to trade on the VFEX shedding 0.44% to USD$0.2475 on 50,584 shares.