EFE Securities •

1 year ago •

Market Commentary

Market Comment - 01.12.2022

Lafarge steals the show in Dec opener... A negotiated trade in Lafarge Cement was the major highlight of the day as a total of 61.15mn shares exchanged hands. The trade yielded a value of $19.12bn which represents 98.25% of the total value outturn and 93.23% of the total volume traded. Turnover ballooned 10121.24% to $19.46bn as volumes garnered 1096.05% to 65.60m shares. The market commenced the last month of the year in gains as the mainstream All share Index rose 1.60% to 14810.81pts while, the Blue Chips Index extended 1.27% to 8603.82pts. The Mid-cap Index climbed 2.19% to 33608.70pts as the ZSE Agriculture Index advanced 0.44% to 72. 61pts.Hotelier African Sun headlined the gainers on a 14.49% surge to $24.5000 followed by sugar processor Star Africa that jumped 12.64% to $1.6000. Property outfit Mashonaland Holdings extended 10.00% to end pegged at $22.0000 while, Rainbow Tourism Group firmed up 3.53% to $7.9200. Spirits and wines manufacturer AFDIS completed the top five gainers of the day with a 2.91% lift to $265.0000. The only two fallers of the day were First Mutual Properties and Zimplow which trimmed 0.36% and 0.17% to close pegged at $10.0000 and $16.8000 respectively. On the ETFs, Datvest slipped 0.49% to end at $1.6900. while two gainers were Old Mutual ETF and Morgan & Co MCS that improved 2.84% and 0.77% to close at $5.6000 and $21.0000 apiece. Cumulatively, 111,167 units worth $261,850.70 exchanged hands in the three ETFS that traded in the session. There were no trades on the VFEX today with Simbisa expected to list tomorrow on the bourse. The newly listed Tigere REIT recorded no trades on its debut on the ZSE. Meanwhile, the Finance Minister has scrapped off limits on REITs to include all types of properties and no longer limited to shopping malls, halls of residence and hotels.