EFE Securities •

2 years ago •

Market Commentary

Market Comment - 03.01.2022

ZSE rebounds in new year opening session... The market rebounded in the first session of the year as three of the indices that we review closed pointing northwards. The primary All Share Index rose 1.61% to end at 10997.06pts while, the Industrial Index put on 1.63% to end at 36345.13pts. The ZSE Top Ten Index grew 1.78% to close at 6932.87pts. The market closed with a negative breadth of six as twenty counters gained, fourteen lost ground while, four sailed stable. Headlining the gainers’ pack was banking group NMB that garnered 16.73% to $9.4000 reversing previous session losses. Axia jumped 16.47% to settle at $35.0000 while, brick manufacturer Willdale advanced 16.33% to $3.6000. Fintech group Cassava was 15.42% firmer at $46.9231 while, apparel retailer Truworths improved 15.00% to $2.3000 on 900 shares. Leading the shakers of the day was Turnall which succumbed 14.66% to $3.5000, trailed by First Mutual Property that let go 6.23% to $7.3140. Retailer OKZIM shed 4.67% to $26.1653 while, spirits and wines manufacturer AFDIS retreated 3.18% to $121.0245. Logistics concern Unifreight capped the top five losers of the day on a 2.67% loss to $29.1667. Activity aggregates were depressed in Monday’s session as volumes dipped 90.73% to 1.51m shares while, turnover dropped 71.07% to $66.87m. OKZIM and Star Africa anchored the volume aggregate of the day with respective contributions of 28.78% and 24.81%. The top value drivers of the day were Delta, Innscor, OKZIM and Simbisa which claimed a combined contribution of 76.96% of the outturn. The Old Mutual ETF improved 0.75% to $4.4337, having traded 20,259 units while, the newly listed Morgan and Company ETF registered no trades. The VFEX recorded no trades in the year opening session.