EFE Securities •

2 years ago •

Market Commentary

Market Comment - 05.07.2022

ZSE losing streak continues... The market registered its sixth consecutive session of losses as mid and heavy cap counters continued to drag down the market. The mainstream All-Share Index dropped 2.74% to 18810.17pts while, the Top Ten Index went down 3.37% to close the day at 11631.30pts. The Agriculture Index lost 3.73% to 106.02pts as the Mid-Cap Index succumbed 1.43% to finish at 37075.91pts. Proplastics led the fallers of the day on a 15.00% decline to $42.5000 while, cement producer Lafarge shed 14.89% to $127.6619. Zimre Holdings Limited succumbed 12.76% to end pegged at $4.6500. National Foods trimmed 11.25% to $1,774.9875 as ART Holdings completed the top five laggards of the day after retreating 10.53% to $17.0000. Banking group ZB Financial Holdings headlined the gainers’ set as it advanced 13.90% to $115.0413 post its dividend announcement while, media entity Zimpapers improved 10.00% to $5.5000. Turnall Holdings added 3.77% to $4.7167 as clothing store Edgars rose 3.59% to $5.7100. CBZ Holdings capped the top five winners’ set on a 0.74% lift to $143.6512. Activity aggregates remained depressed as turnover dropped 46.17% to $156.35m while, volumes slipped 18.94% to 1.63m shares. Volumes leaders for the day were OK (18.84%), Truworths (13.00%), Seedco Limited (10.91%) and Simbisa (10.80%). Simbisa, Delta, Seedco and Innscor claimed a combined 70.33% of the day’s value outturn. Morgan & Co MCS was the only faller amongst the ETF family as it slid 0.04% to $26.0402. Datvest and Old Mutual ETFs ticked up 0.90% and 8.30% to end pegged at $1.9951 and $9.6540 apiece. On the VFEX a total of 740,123 shares traded. Bindura plunged 9.56% to USD$0.0387, Padenga let go 3.96% to USD$0.2810 while, Seedco International closed flat at USD$0.2810. Elsewhere, Caledonia declared a dividend of US$0.1400 payable on the 29th of July.