EFE Securities •

2 years ago •

Market Commentary

Market Comment - 10.10.2022

Delta buoys the market... Top capitalised stock Delta buoyed the market in the new week as three of the indices under our review closed pointing northwards. The primary All Share Index put on 1.30% to end at 13239.34pts while, the ZSE Top Ten Index added 1.85% to 7827.60pts. The Mid-cap Index went up 0.15% to close at 28921.22pts as the ZSE Agriculture Index slipped a negligible 0.01% to 69.79pts. Delta surged 9.57% to $198.3815 having traded an intraday high of $200.0000. Zimre Holdings trailed on a 7.43% jump to $4.9630 while, Mashonaland Holdings improved 6.99% to $7.4893. Packaging group Nampak grew 5.56% to $9.5000 as logistics concern Unifreight rose 5.26% to close pegged at $50.0000. on the downside was Bridgefort Capital that dropped 5.53% to $7.0000, trailed by African Sun which trimmed 2.81% to $18.1188 having traded a low of $18.0000 in the session. Star Africa shed 2.80% to $1.5501 as Turnall retreated 2.79% to $3.4025. Telecoms giant Econet was 2.49% lower at $82.5837. Volumes advanced 57.85% to see 18.27m shares worth $1.20bn exchange hands in the session. The duo in Econet and its spinoff Cassava highlighted the aggregates as they claimed a combined 91.96% of total volumes traded and 85.82% of the value outturn. Delta was the other notable value contributor claiming 10.57% of turnover. Cass Saddle was the top gainer among the ETFs as it extended 5.07% to $1.8967 followed by Old Mutual that rose 1.88% to $5.2975. Morgan and Co MIZ climbed 0.41% to $1.2852. Datvest MCS was the only decliner for the day having lost 1.54% to land at $1.7143. Cumulatively, 65,772 units worth $191,165.27 exchanged hands in the 5 ETFs. There were no trades on the VFEX. In company news, Edgars published their half year results in which PAT jumped 540.01% to $1.22bn as trading in foreign currency has improved their stock selection and hence customer traffic.