EFE Securities •

1 year ago •

Market Commentary

Market Comment - 04.10.2022

ZSE retreats further in Tuesday''s session... The market closed mixed in Tuesday''s session to see the All-Share Index trimming 2.10% to 14424.01pts while, the ZSE Top Ten Index succumbed 3.18% to end pegged at 8821.54pts.The two gainers amongst the indices we review were ZSE Agriculture Index that inched up 0.22% to 74.57pts and the Mid-Cap Index which rose 0.67% to 29193.61pts. The market closed with a positive breadth as gainers outstripped fallers by a count one. Cement manufacturer Lafarge topped the gainers’ category on a 14.96% rise to $113.7000 followed by insurer First Mutual Holdings that grew 14.29% to $24.0000. Hotelier Rainbow Tourism Group surged 14.07% to finish at $7.8591 while, milk processor Dairiboard enhanced 10.09% to close at $25.2791. Meikles Limited capped the top five risers’ list on a 8.70% improvement to $108.6957. Turnall Holdings led the laggards list after dropping a 12.76% to $3.3150 as bankers NMB were 9.22% weaker at $18.1146. Ecocash Holdings lost 8.14% to $51.4425 while, spirit manufacturer AFDIS Limited eased 8.08% to settle at $275.7742. Tea company Tanganda completed the top five losers’ set on a 5.87% plunge to $80.0070. Activity aggregates remained mixed for the second consecutive session as turnover enhanced 57.45% to $287.29m while, volumes traded succumbed 30.78% to 3.59m shares. Simbisa, Delta, Econet, Innscor and Tanganda claimed a combined 83.42% to the total value traded. Volume drivers of the day were Ariston, OKZIM, Simbisa, Econet and Tanganda with a shared contribution of 63.38% to the aggregate. The ETFs traded a total of 48,742 units worth $183,663.65. The two ETFs that recorded price changes were Datvest and the Old Mutual ETFS that added 2.90% and 0.0038% to end at $1.7500 and $5.2000 apiece. Morgan & CO Multisector and MIZ closed at stable prices of $28.5000 and $1.3000 respectively.