EFE Securities •

2 years ago •

Market Commentary

Market Comment - 08.03.2022

ZSE slips into the red... ZSE reversed gains in Tuesdays’ session, as demand continued to wane in selected counters. The All-Share Index relinquished prior session gains as it lost 0.89% to 14996.76pts while, the Industrial Index similarly declined 0.89% to 49582.33pts. The Mid cap Index retreated 0.50% to 24660.53pts while, the Blue-Chip Index was the major loser amongst its kind as it shed 1.07% to 9943.46pts weighed down by losses in Delta, Ecocash and Meikles. Agricultural Concern CFI led the losers of the day as it dropped 16.67% to trade at $102.0000, followed by financial services group ZB that eased 8.05% to $60.0000. General Beltings Holdings trimmed 4.94% to close at a vwap of $1.6543 while, sugar refiner Star Africa slipped 3.95% to $1.4413. Fintech group Ecocash holdings limited capped the top five performers set of the day on a 3.35% slump $68.1076. MedTech headlined the gainers’ list of the day after a 12.50% jump to $22.5000, trailed by tissue and paper manufacturer Art that advanced 11.54% to $14.5000. The duo of property companies in Mashonaland and FMP edged up 11.10% and 7.82% respectively to see the latter closing at $7.0000 while the former was at $3.2037. Zimre holdings capped the top five risers set on a 7.03% rise to $3.9380. Activity aggregates improved as volumes jumped 58.48% to 2.68m shares yielding a daily turnover of $274,89m which was a 35.59% increase from prior session. The trio of Econet, Nampak and AFDIS led the volume leaders of the day as they claimed a combined 44.59% of the aggregate. Econet, Afdis, Delta and Innscor anchored the value aggregate with a combined contribution of 74.81% to the aggregate. The ETFs advanced in the session, led by Datvest MCS that jumped 19.87% to $2.23000, while the Old Mutual Top ten advanced 6.75% to close with a vwap of $8.8892. Elsewhere, on the VFEX, Bindura dropped 8.89% to trade at US$0.0410. as 33,600 shares exchanged hands.