EFE Securities •

2 years ago •

Market Commentary

Market Comment - 04.03.2022

ZSE ends week in marginal gains... The market recorded a minor rebound in Friday’s session after yesterday’s setback as three of the benchmark indices in our review capped the week pointing northwards. The mainstream All Share Index and the Industrials put on 0.16% to close at 15110.60pts and 49960.22pts apiece. The ZSE Top Ten Index rose 1.77% to end at 24770.79 while, the Mid Cap sustained losses as it ended the day at 10034.44pts after letting go 0.36%. Cement manufacturer Lafarge headlined the gainers’ pack on a 20.00% surge to settle at $115.2000, albeit on scrappy shares. Trailing was TSL that jumped 17.86% to $111.9679 as Proplastics followed thereafter on a 11.11% advance to $111.9679. Banking groups ZB and FBC secured the fourth and fifth positions of the risers’ list after the duo went up 7.27% and 6.45% to close at $65.2500 and $33.0000 respectively. On the downside was Mashonaland that eased 12.08% to $2.8000 as it reversed prior session’s gains. Property concern FMP extended losses to $6.4923 after trimming 7.25% in the session under review. Construction group Masimba slid 5.30% to end pegged at $6.4923 as First Mutual Holdings shed 4.17% to $19.1667. Completing the top five losers of the day was OKZIM that tumbled 2.30% to $29.7036. Volume of shares traded enhanced 83.82% to $3.04m as Star Africa, Econet and Delta claimed 29.77%, 17.62% and 14.29% of the outturn apiece. Turnover ballooned 92.60% to $335.07m with value drivers of the day being Delta, Econet, Innscor and Simbisa that accounted for a shared 76.89% of the outturn. The newly listed Datvest Consumer Staples ETF traded 68.03m units worth $107.30m on debut to close at a price of $1.5772 having jumped 57.72%. The Morgan and Co ETF added 1.94% to $14.2039 while, Old Mutual ETF plunged 16.18% to $7.1413. Padenga traded 15,060 shares worth USD$3,162.60 at a stable price of USD$0.2100.