EFE Securities •

2 years ago •

Market Commentary

Market Comment - 08.06.2022

ZSE snaps prior gains... The market slipped into the red in midweek session as the All-share Index declined 0.09% to 24140.09pts while, the Blue-Chip Index retreated 0.53% to 15744.30pts. On the contrary, the Mid-Cap Index was up 1.23% at 41714.85pts while, the ZSE Agriculture Index put on 0.57% to 122.51pts. The market closed with a negative breadth as fallers outweighed gainers by a count of two. Hotelier African Sun led the decliners of the day on a 7.92% slump to $20.2571 followed by Ariston that dropped 6.19% to $4.0964. Bankers CBZ shed 4.11% to close at $115.0000 as Meikles trimmed 3.63% to end pegged at $163.9394. Fintech group Ecocash Holdings completed the top five losers of the day after shedding 2.80% to close at $124.9021. Construction group Masimba Holdings headlined the winners’ list on a 15.00% uplift to end pegged at $59.8000, trailed by OKZim that jumped 10.11% to close at a vwap of $59.6788. Banking group First Capital gained 7.61% to $11.3641 while, CFI Holdings surged 7.50% to end the day at $322.5000. Mashonaland Holdings completed the top five gainers of the day after advancing 4.76% to $4.4027. Activity aggregates were depressed in mid-week session as turnover dropped 60.78% to $490.61m while, volumes dipped 36.71% to 3.23m shares. The top volume leaders of the day were African Sun, Simbisa, Ecocash and Delta that claimed a shared 74.34% of the total. Top value leaders were Simbisa, Delta, Innscor and Econet with respective contributions of 21.86%, 20.51%, 16.04% and 11.65%. On the VFEX, Bindura grew 14.75% to USD$0.0381 as it traded 14,475 shares. The Old Mutual ETF went down 7.34% to $11.1004 as the Datvest ETF tumbled 4.50% to $2.0195. Morgan and Co ETF advanced 4.17% to $25.0000.