EFE Securities •
1 year ago •
Market Commentary
Market Comment - 07.12.2022
ZSE in slight recovery mode ... The market recorded a slight recovery in the mid-week session as the primary All Share Index climbed 0.33% to 14826.95pts. The Agriculture Index rose 0.06% to 71.61pts while, the Mid Cap Index edged up 0.87% to 33366.21pts. The Blue-Chip Index slipped 0.04% to 8653.44pts. Packaging group Nampak led the gainers of the day after a 9.43% jump to $8.0000, followed by Masimba Holdings that advanced 7.21% to settle at 75.0500. Bankers First Capital group surged 5.71% to $10.5521 while, Axia Corporation increased 4.52% to close pegged at $67.0984. Capping the winners pack was plastics pipe manufacturer Proplastics after a 4.00% uplift to close the day at $26. 0000.Retailers OK Zimbabwe limited led the laggards of the day after a 2.33% slump to $28.2573 as Afdis trimmed 1.24% to $261.6667. Hippo Valley dropped 0.47% to $199.0000 while, Seed co declined by 0.46% to $75.0000. Fintech group Ecocash completed the losers set after a 0.5% retreat to settle at $35.8426. Activity aggregates were mixed in the mid-week session as volume traded increased by 17.50% to 3.10mn while turnover dropped by 9.96% to $242.33mn. The market closed on a positive breadth of five after twelve counters registered gains as seven counters lost their grip. The foreign purchases jumped 6254.70% to $31.66m while, the sales dipped 47.35% to $77.65m. The top volume drivers of the day were Econet, OkZim, Delta and First Capital that contributed 33.12%, 13.61% 8.97% and 7.26% apiece. Econet, Delta, Innscor and Meikles contributed a combined 80.55% to the total outturn. On the VFEX, a total of 284,426 shares exchanged hands with Padenga trading 10,000 shares at previous price $0.2405. Seed Co international claimed the larger slice of the cake after trading 263,245 shares thought it slipped 0.21% to a vwap of $0.3390. Simbisa Bands and Nedbank Depository succumbed 0.35% and 13.278% to $0.3395 and $11.5000. Old Mutual ETF was the sole riser of the ETFs after it inched up 0.84% to $6.0000. Datvest ETF and MCMZ ETF tilted 2.40% and 0.635 to $1.6400 and $1.3800 respectively.