EFE Securities •

1 year ago •

Market Commentary

Market Comment - 04.08.2022

ZSE falters in penultimate session of the week... The market continued to falter in Thursday’s session recording its sixth consecutive day of declines. The primary All Share Index trimmed 1.11% to 15919.97pts while, the ZSE Top Ten Index slipped 1.55% to end at 9757.23pts. The ZSE Agriculture Index went down 0.84% to 89.84pts while, the Mid Cap Index tumbled 0.02% to close at 32180.27pts. TSL was the top laggard of the day as it dipped 5.56% to $85.0000 followed by Edgars that succumbed 4.15% to $6.0003. Beverages group Delta improved 3.44% to close at vwap of $222.4147 while, Turnall retreated 2.56% to $4.5701. Capping the top five fallers’ pack was telecoms giant Econet that let go 2.50% to $164.4516. Leading the upside of the market was logistics concern Unifreight that swelled 14.94% to $50.0000. Trailing was microfinance group Getbucks that surged 13.33% to $17.0000. African Sun extended 6.82% to $17.0909 as it reinforced Wednesday’s gains. Apparel retailer Truworths added 1.97% to $2.0394 as mining house RioZim overturned yesterday’s losses to record a 0.53% lift as it closed at $94.0000. Volumes traded ballooned 75.66% to 10.23m as OKZIM, Turnall, Delta, Econet and Edgars propelled the aggregate on a combined contribution of 89.90%. Value outturn stood at $808.84m, a meagre 1.63% rise from prior session. Value leaders of the day were Delta (49.63%), Econet (33.18%) and OKZIM (10.78%). The top gainer among the ETFs was Cass Saddle that gained 7.51% to $1.6417 followed by Morgan and Co MCS which rose 5.28% to $28.1515. The Old Mutual ETF grew 1.08% to $6.9500 as the MIZ improved 0.78% to $1.3000. The Datvest ETF lost 2.31% to end pegged at $1.6500. Nickel miner Bindura traded 15,600 shares worth USD$468.0000 at a stable price of USD$0.0300.