EFE Securities •
1 year ago •
Market Commentary
Market Comment - 10.11.2022
Bearish sentiment prevails on the bourse ... The bearish sentiment prevailed on the market in the Thursday’s trades as the All-Share Index lost 1.37% to settle at 14532.92pts. The Blue-Chip Index dropped a further 2.23% to close at 8367.03pts while, on the contrary the Mid-Cap Index rose 0.40% to 33654.35pts. The Agriculture Index gained a meagre 0.0047% to 76.25pts. A total of thirty counters exchanged hands, segregated into twelve gainers, thirteen losers and five stable to see the market close with a negative breadth of one. Proplastics led the laggards of the day as it shed 13.40% to close the session with a vwap of $27.7109. Trailing was top capitalised stock Delta that declined 6.79% to $213.5839 having traded an intraday low of $195.0000. Clothing retailer Edgars tumbled 3.23% to trade at $7.5000 while, Axia closed the day pegged at $74.1021 following a 2.43% loss. Bankers CBZ capped the top five fallers list of the day as it declined 2.07% to $130.0000. Packaging group Nampak led the risers of the day as it climbed 13.42% to $10.0000 while, bankers First Capital advanced 12.77% to $10.4000. First Mutual Properties jumped 10.17% to close at $8.8135 while, sugar processor Star Africa went up 4.28% to settle at $1.8770 as 10,400 shares exchanged hands in the counter. Banking group NMB fastened the top five gainers of the day as it rose 1.71% to $24.4025. Activity aggregates enhanced in the session as volume traded ballooned 1191.79% to see 7.43m shares trade, mainly driven by NMB, Econet and Delta as they claimed a combined 91.09% of the aggregate. Turnover soared 816.35% to $506.84m anchored by Delta, NMB and Econet with respective contributions of 47.04%, 21.00% and 20.70%. On the VFEX market, SeedCo International was the only active counter in the session, as it dropped 13.24% to US$0.3199. A total of 741,259 shares worth US$237,141.9390 traded in the session. Elsewhere, Zimre Holdings released its third quarter trading update in which the group reported total income of 193% in inflation adjusted terms.