EFE Securities •

2 years ago •

Market Commentary

Market Comment - 02.02.2022

ZSE eked out gains ahead of Tanganda listing... The market eked out gains in mid-week session ahead of Tanganda listing which is slated tomorrow. The primary All Share Index added 0.50% to 12257.96pts while, the Industrials put on 0.50% to 40523.33pts. The ZSE Top Ten Index went up 0.80% to end pegged at 7989.13pts while, the Mid-cap Index was the sole faller amongst the indices under our review as it lost 0.31% to settle at 21115.71pts. Logistics group Unifreight rebounded 14.81% to $31.0000 while, hotelier African Sun advanced 8.92% to $7.2857. Mashonaland holdings enhanced 7.57% to settle at $.3.2000 while, conglomerate Innscor improved 4.08% to $219.1796. Property concern FMP capped the top five winners of the day on a 3.85% slide to $6.7500. Leading the fallers’ pack was construction group Masimba that shed 10.00% to close at $45.0000, followed by Turnall which slipped 9.02% to $5.0037. Insurer FML declined 4.36% to $21.0000 as Zimre Holdings Limited trimmed 3.70% to $3.20005. Agriculture concern Ariston completed the top five shakers of the day after letting go 2.33% to $3.3571. Volume of shares traded ballooned 110.16% to 4.86m, yielding a turnover of $207.72m. Volume leaders of the day were Axia, Econet, Star Africa, Edgars and OKZIM with a share contribution of 76.05% to the outturn. Econet, Axia and Delta anchored the value aggregate claiming 40.05%, 20.23% and 19.99% of the total. On the VFEX, Padenga traded 74,706 shares worth $15,688.26 at a stable price of USD$0.2100 while, SeedCo International rose 0.14% to $0.2850. The two ETFs traded sideways as the Morgan and Co ETF gained 0.89% to $13.6371 while, the Old Mutual ETF weakened 17.67% to $6.9363.