EFE Securities •

1 year ago •

Market Commentary

Market Comment - 03.10.2022

ZSE retreats in curtain-raising session... The ZSE commenced the last quarter of the year in the red as all the four benchmark indices that we review closed pointing southwards. The mainstream All Share Index was down 0.25% at 14734.12pts while, the ZSE Top Ten Index shed 0.32% to 9111.15pts. The ZSE Agriculture Index trimmed 1.15% to 74.41pts while, the Mid-Cap Index pared 0.18% to 28999.58pts. A positive market breadth of eight was registered in a session that saw fifteen counters gaining ground against seven that faltered. SeedCo Limited was the major casualty of the day as it dropped 13.43% to settle at $93.5000. Following was bankers CBZ that let go 1.93% to $137.3000 as conglomerate Innscor retreated 0.78% to $305.5198. Star Africa slipped 0.63% to close at $1.6019 while, beverages group Delta capped the top five laggards of the day on a 0.54% to $247.3977. Leading the upside of the market was General Beltings that surged 15.00% to $2.3000, trailed by Turnall that jumped 14.63% to close at $3.8000. Banking group NMB followed with an 8.74% uplift to $19.9542. Insurer FML extended 6.33% to $21.0000 as FMP completed the top five winners of the day on a 3.53% rise to end pegged at $7.0955. Activity aggregates were mixed in the session as reflected in volumes that advanced 83.72% to 5.19m while, turnover declined 36.43% to $182.46m. Turnall was the top volume leader claiming more than 75% of the total volumes traded. Value drivers of the day were Innscor, Simbisa, Delta and Axia with a combined contribution of 87.01%. The ETF market traded sideways in Monday’s session as the Datvest ETF dipped 14.48% to $1.7007 while, the Morgan and Co and Old Mutual ETFs improved 3.18% and 0.60% to trade at $28.5000 and $5.1998 apiece. The VFEX market registered no trades for the second consecutive session.