EFE Securities •
2 years ago •
Market Commentary
Market Comment - 02.03.2022
ZSE scratches gains in the mid-week session... The market continued to register gains in the mid-week session as the All-Share Index went up 0.17% to 15103.04pts. Similarly, the Industrial Index gained 0.17% to 49935.06pts while, the Blue-chip Index was the major gainer amongst the indices we review as it advanced 0.25% to close at 10083.71pts. The Mid cap Index was marginally up as it added a negligible 0.00003% to 24361.38pts. Agricultural concern CFI headlined the winners of the day as it jumped 20.00% to settle at $122.4000, trailed by Art that rose 3.27% to $13.0000. Fintech Group Ecocash Holdings grew 2.76% to trade at $71.9782 while, Innscor spinoff Simbisa buttressed its prior sessions gains as it put on 2.00% to end pegged at $186.0488. Tanganda Tea Company capped the top five gainers of the day as it edged up 1.72% to $76.4000. Sugar manufacturer Star Africa led the laggards of the day on a 8.77% loss to $1.5147, followed by plastics manufacturer Proplastics that eased 6.67% to $28.0000. Mashonaland Holdings shed 4.95% to close at $3.0000 while, Zimplow which is trading under cautionary trimmed 2.87% to $20.1313. Retailer Ok Zimbabwe capped the top five losers of the day as it let go 2.55% to $30.9936. Activity aggregates of the day enhanced as volumes of shares traded jumped 55.95% to 2.44m while, turnover surged 51.74%% to $263.62m. The trio of Simbisa, Star Africa and Axia led the volume leaders of the day claiming a combined 63.82% of the aggregate. Simbisa led the value leaders as it contributed 43.42% of the total, trailed by Innscor and Axia that had respective contributions of 24.84% and 10.31%. Exchange Traded funds declined in the session, as the Morgan & Co ETF was 0.06% down to $14.5027 while, the Old Mutual ETF relinquished prior sessions gains as it retreated 14.22% to $8.9179. A total of 468,364 units worth $5.78m exchanged hands in the two ETFS, as the market awaits the listing of Datvest Consumer Staples ETF slated for tomorrow. Elsewhere, on the VFEX, Padenga was stable at US$0.2100 as 17,111 shares traded.