EFE Securities •

1 year ago •

Market Commentary

Market Comment - 03.11.2022

ZSE retreats in the penultimate session... The ZSE retreated in the penultimate session of the week as the All-Share Index dropped 0.12% to 15186.72pts. The Blue-Chip Index lost 0.19% to 8928.17pts weighed down by OK-Zimbabwe and Ecocash Holdings. On the contrary, the Agriculture Index gained 0.16% to 76.58pts while, the Mid-Cap Index was up 0.06% to 33681.10pts. Retail group Ok Zimbabwe led the laggards of the day as it dropped 5.94% to $29.9578 trailed by First Mutual Properties that tumbled 3.37% to $8.6000. Zimpapers shed 2.30% to trade at $2.6000 while, fintech group Ecocash lost 2.25% to close at $42.0256. Insurer First Mutual Holdings capped the top five worst performers of the day as it went down 2.20% to $24.4500. BridgeFort Capital headlined the gainers’ list of the day as it jumped 7.96% to close at $8.0000 on scrappy 400 shares. Mashonaland Holdings closed at $8.0000 following a 3.64% rise while, bankers FBC advanced 3.63% to $55.9608. Banking group NMB edged up 3.50% to close at $25.0000 while, dairy processor DZL fastened the top five performers of the day on a 3.14% surge to $49.5060. Meanwhile, total volumes traded surged 94.67% to 1.99m shares while, turnover likewise ballooned 109.64% to $272.16m. The duo of Delta and Econet were the top volume and value leaders of day as they claimed 62.5% of former and 89.31% of the latter. The ETF index was 0.93% up at 324.9172pts. The Old Mutual Top 10 ETF dropped 2.04% to end pegged at $5.2135 while, the other ETFs sailed stable in the session. On the VFEX, Seedco International was the only traded counter as it gained 8.57% to US$0.3800 on paltry 138 shares. Elsewhere, Afdis released its HY23 results in which they reported a Profit after tax of ZWL$584.49m and declared a dividend of US$0.0025 per share.