EFE Securities •

1 year ago •

Market Commentary

Market Comment - 06.10.2022

ZSE extend losses in Thursday''s session... Heavy cap stock weighed down the market in Thursday’s session to see their own index Top Ten shed 5.29% to 8108.26pts. The All-Share Index slumped 3.18% to end the day at 13632.14pts. On the other hand, the ZSE Agriculture Index and the Mid Cap Index firmed up 2.42% and 1.89% to close at 74.50pts and 29405.77pts apiece. Top capitalised stock Delta plummeted 10.47% to end pegged $204.4233 while, telecoms giant Econet tumbled 10.03% to $90.0160. Hotelier RTG dipped 9.78% to $7.0390 while, conglomerate Innscor trimmed 9.48% to $270.0867. Completing the top five shakers of the day was General Beltings that softened 8.13% to close at $2.0000. Apparel retailer Truworths headlined the upside of the market as it reversed prior session’s losses to close at $2.5400 having jumped 14.89%. Insurer FML rallied 14.72% to $27.5318 while, banking group First Capital advanced 13.89% to $10.2944. Construction group Masimba put on 10.85% to $72.0000 while, National Foods capped the top five winners of the day on a 9.09% lift to $1,200.0000. Volumes traded plunged 98.72% to 1.18m shares while, turnover dropped 87.08% to $147.02m. Volume leaders of the day were Axia (25.51%), Simbisa (17.36%), Innscor (14.88%), Econet (12.35%) and Delta (11.15%). Anchoring the value outturn was Innscor, Simbisa, Delta and Axia with a combined contribution of 83.47%. Morgan and Co MCS let go 3.96% to $27.1765 while, Datvest retreated 0.97% to $1.7414. Morgan MIZ shed 0.88% to settle at $1.2886. The Old Mutual ETF was the only gainer with a 0.92% rise to $5.2346. On the VFEX, Bindura slipped 1.96% to USD$0.0300 as 1.46m shares exchanged hands. Padenga traded 800 shares worth USD$288.0000 at a stable price of $0.3600. Foreign participation remained depressed as a mere zwl$21,900 worth of disposals were registered against a nil purchases position.