EFE Securities •

1 year ago •

Market Commentary

Market Comment - 03.08.2022

ZSE loses grip as Delta and Econet dominate the session... The market continued to lose grip as the primary All Share Index eased 1.62% to 16098.74pts while, the ZSE Top Ten Index retreated 2.17% to 9910.94pts. The ZSE Agriculture Index gave up a marginal 0.39% to 90.60pts while, the Mid-Cap Index lost 0.69% to 32186.71pts. The market closed with a negative breadth of eight as sixteen counters traded in the negative territory while, eight gained. Leading the fallers’ list of the day was mining house Riozim that dipped 13.43% to $93.5000 followed by Dairibord that trimmed 11.40% to $30.1236. Axia dropped 5.43% to close the day at $75.1811 while, beverages group Delta that eased 4.76% to $230.3472. Fast foods group Simbisa brands capped the top five laggards of the day on a 4.36% retreat to $202.5462. Hotelier African Sun headlined the winners of the day on a 13.84% jump to $16.0000 while, Proplastics rose 4.10% to end the day pegged at $25.0000. General Beltings advanced 3.88% to $1.6000 as brick manufacturers Willdale went up 3.11% to $2.6117. Meikles Limited capped the top five gainers’ list of the day on a 0.65% uplift to end the day at $108.8000. Activity aggregates were mixed in the session as value outturn shed 10.15% to $795.85m while, volumes put on 20.23% to 5.83m. The duo of Delta and Econet claimed a combined 61.01% of the volume aggregate and 94.28% of the value outturn. Cass Saddle ETF lost 9.67% to $1.5363 while, Made in Zimbabwe ETF shed 0.76% to $1.2900. Datvest retreated 0.52% to $1.6891. The Old Mutual ETF grew 5.08% to $6.8700 while, Morgan and Co MCS added 0.01% to $26.7400. A total of 1.62m units worth $2.17m exchanged hands in five ETFs. On the VFEX, Padenga and Bindura were the only counters that registered trades in the mid-week session. Bindura traded 161,339 shares at a stable price of $0.0300 while, Padenga ticked up 0.62% to close the day at $0.3235.