EFE Securities •

1 year ago •

Market Commentary

Market Comment - 02.11.2022

ZSE records slight gains... The market recorded negligible gains in the mid-week session as the primary All Share Index added 0.10% to 15204.84pts while, the Blue-Chip Index improved a mere 0.001757% to 8945.57pts. The ZSE-Agriculture Index dropped 0.015% to 76.45pts as the Mid-Cap Index advanced by 0.37% to 33659.56pts. Banking group First Capital headlined the winners of the day on a 12.96% jump to $10.5500, followed by Masimba Holdings that rose 4.00% to settle at $78.0000. Packaging group Nampak rallied 1.38% to $8.8200 as hotelier RTG grew 0.83% to $8.0667. Capping the top five gainers’ list was NMBZ with a 0.64% lift to $24.1538. Zimbabwe Newspapers led the laggards of the day on a 11.30% slump to close at $2.6611 while, Mashonaland Holdings declined 3.52% to $7.7188. Clothing retailer Edgars slipped 1.32% to $7.5000 as African Sun trimmed 1.25% to close at $25.6659. Axia completed the top five losers of the day on a 1.14% fall to end pegged at $81.0078. The market closed with a negative breadth of two as eleven counters lost ground against nine that advanced. Activity aggregates were depressed in the session as volumes succumbed 44.90% to 1.02m while, turnover retreated 50.72% to $129.82m. The top volume drivers of the day were Axia, Econet, Delta and Simbisa which contributed a combined 81.49% of the aggregate. Delta, Simbisa, Axia and Econet Wireless anchored the value aggregate with respective contributions of 26.54%, 23.17%, 21.58% and 14.85%. Foreigners were net sellers in the session as they amounted to $9.57m with nil purchases recorded. Morgan and Co MCS ETF inched up 3.14% to settle at $21.6585 while, Old Mutual ETF advanced 2.00% to $5.3219. In the same vein, the Datvest ETF rose 0.10% to $1.750. Contrastingly, MIZ ETF slipped 7.02% to $1.0600. On the VFEX market, Bindura and Padenga lost 1.64% and 2.63% apiece. SeedCo International was stable at USD$0.3500 as 10,184 shares exchanged hands.