EFE Securities •

2 years ago •

Market Commentary

Market Comment - 10.06.2022

Losses stretch in week ending session ... Marginal losses extended in the week ending session to see the primary All Share Index losing 0.01% to close at 24091.20pts while, the Top Ten trimming a similar 0.01% as it ended at 15668.66pts. The Mid -Cap Index was 0.02% lower at 41975.92pts as the Agriculture Index was the only index amongst the four, we review, to close in the black after rebounding 1.74% to 125.38pts, spurred mainly by Hippo Valley Estates. Mashonaland Holdings headlined the winners of the day on a 14.85% surge to $5.8000 as Hippo garnered 14.75% to end at $372.9500 as it reversed prior session’s losses. Brick manufacturer Willdale jumped 14.29% to settle at $4.0000. Insurer FML Holdings put on 8.23% to $25.9750 as property concern FMP capped the top five risers on a 3.17% uplift to $8.3569. Leading the downside for second consecutive day was General Beltings that dipped 14.56% to $1.0167 trailed by hotelier African Sun that dropped 6.36% to $20.4754. Agriculture concern Ariston extended its losses to $3.7727 after the group slipped 5.68% as Axia trimmed 2.09% to close at $134.9876. Fintech group Ecocash Holdings completed the top five risers set on a 1.58% loss to end at $122.9041, on the back of selling pressure. Activity aggregates were depressed as seen in all measures which closed in the red. Volumes exchanged declined 58.77% to 2.58m while, value outturn was 35.29% lower at $509.59m. Heavies Delta, Innscor, Ecocash anchored the turnover aggregate accounting for a combined 55.21%, while OKZIM, Ecocash and Delta contributed 24.40% 20.33% and 16.41% in that order of the day’s volume. Old Mutual ETF went down 5.53% to $10.0863 while, Datvest and Morgan and Co registered gains of 3.05% and 0.33% to $2.2402 and $25.0000 respectively. Foreign inflows were $9.79m against outflows of $13.09m to register a negative balance of payment.