EFE Securities •

2 years ago •

Market Commentary

Market Comment - 07.04.2022

Mid-Cap counters lift the market... Mid cap counters lifted the market in the penultimate session of the week, as its Index gained 1.17% to close at 27650.60pts. The All-Share Index was up 0.87% to 16599.79pts while, the segregated Industrials gained an almost similar 0.88% to end at 54831.19pts. The Blue-chip Index edged up 0.83% to 10936.34pts amidst constrained supply seen in selected heavy counters. Agricultural concern Zimplow headlined the gainers of the day as it maintained yesterday’s gains by a 19.45% jump to $22.7000. The duo of banking groups in FBC and First Capital advanced by 9.76% and 8.31% apiece to see the former close at $45.0000 while, the latter ended at $6.6075. Cement manufacturer Lafarge inched up 7.93% to $135.0000 while, Afdis capped the top five best performers’ list of the day on a 6.82% uplift to $235.0000. A total of thirty-six counters registered price movements, distributed into twenty-three gainers and thirteen losers. Apparel retailer Edgars led the laggards of the day as it dropped 15.81% to trade at $4.5460, followed by hotelier African Sun that slumped 13.71% to $9.0063. General Beltings continued to lose ground as it fell 10.50% to $1.3257 while, microfinancier Getbucks eased 9.09% to close at $6.0000. Financial services group ZB tumbled 8.33% to $55.0000 as it capped the top five worst performers of the day. Activity aggregates declined in the session as volume traded trimmed 22.32% to 8.47m shares while, turnover plunged 42.07% to $255.91m. ETFs advanced in the session as the Old Mutual Top Ten gained 0.23% while, the Morgan & Co ETF and Datvest MCS ETF inched up 0.42% and 0.54% apiece. Elsewhere on the VFEX, nickel miner Bindura was stable at US$0.0500 as 13,445 shares worth US$672.2500 exchanged hands. Dairibord released its FY21 results in which the group reported a 149% increase in PAT to $61m in inflation adjusted terms.