EFE Securities •

2 years ago •

Market Commentary

Market Comment - 08.04.2022

ZSE ends week in bullish mode... The ZSE ended the week in bullish mode as the market continued to witness aggressive demand in selected heavies. The mainstream All Share Index and the Industrials gained an identical 3.72% to end at 17216.77pts and 56872.81pts apiece. The Mid Cap Index added 2.98% to close at 28474.34pts while, the ZSE Top Ten Index put on 3.97% to end pegged at 11370.22pts. The market recorded a positive breadth of seventeen as twentyfive counters gained against a mere eight fallers. The pole position on the gainers list was held by General Beltings that ballooned 18.40% to close at $1.5696, trailed by banking group NMB that garnered 14.29% to $16.0000. Axia jumped 12.02% to $90.8949 as Tanganda extended 10.95% to $120.0036 on 139,500 shares. Beverages group Delta advanced 8.62% to settle at $265.2546, having touched a high of $268.0500. Decliners of the day were led by Mashonaland Holdings that shed 1.02% to $2.9479, followed by Zimpapers that trimmed 0.93% to close at $2.5000. Art slipped 0.56% to $19.8889 as Dairibord lost 0.17% to $35.0386, having traded an intraday low of $35.0000. Apparel retailer Edgars completed the top five shakers of the day on a 0.13% retreat to $1.8975. Activity aggregates were mixed in Friday’s session as volumes went down 5.25% to 8.03m shares while, turnover advanced 72.36% to $440.91m. Zimplow, OKZIM and Econet claimed a combined 75.46% of the total volume traded. Top value leaders of the day were Econet, Zimplow, OKZIM and Simbisa which accounted for a shared 74.68% of the outturn. Bindura was the only faller on the VFEX market as it slid 4% to $0.0480 while, Padenga and SeedCo International rose 0.05% and 0.18% apiece. The Old Mutual Top Ten and the Datvest ETFs eased 0.18% and 0.12% to trade at $8.4350 and $1.8772 respectively. Morgan and Co ETF went up 2.45% to $14.9674. A total of 161,357 units worth $432,742.80 exchanged hands in the three ETFs.