EFE Securities •

2 years ago •

Market Commentary

Market Comment - 07.06.2022

Market gains stretch... The ZSE extended gains in Tuesday’s trades as the All-Share Index went up 0.77% to 24161.03pts while, the Top 10 Index rose 0.09% to 15828.75pts. The ZSE Agriculture Index inched up 0.65% to 121.81pts as the Mid-Cap Index went up 2.82% to 41209.85pts. Clothing retailer Edgars and hotelier RTG topped the gainers’ list as the duo soared a similar 15.00% to finish at $4.6000 and $9.2000 respectively. Financial group Getbucks firmed up 14.23% to $14.8500 while, retailer OKZim advanced 13.66% to $54.2009. Completing the top five winners’ pack was CFI Holdings that added 13.64% to $300.0000. Fallers were led by General Beltings which dropped 5.56% to $1.4000, followed by media entity Zimpapers that retreated 3.39% to end at $5.5021. Mashonaland Holdings trimmed 2.91% to $4.2026 as banking group NMB eased 2.78% to $28.0000. SeedCo Limited was 2.15% weaker at $225.0000 as it capped the top five laggards of the day. Activity aggregates improved as turnover ballooned 978.21% to $1.25bn while, volumes grew 690.91% to 5.1m shares. Econet, Delta and Star Africa claimed a combined 60.22% of the volume aggregate. Econet, Delta, Innscor and Hippo anchored the value aggregate with respective contributions of 32.95%, 25.14%, 11.97% and 10.13%. Foreign purchases stood at $57.50m while, sales amounted to $281.46m, to set a net funds outflow position of $223.96m. On the VFEX, Padenga rose 20.01% to USD$0.2765 after trading 5,500 shares. The Datvest ETF trimmed 5.83% to $2.1146 while, the Morgan and Co ETF slipped 0.79% to close at $24.0000. Old Mutual ETF was the only riser on a 2.98% gain to end pegged at $11.9803.