EFE Securities •

2 years ago •

Market Commentary

Market Comment- 11.02.2022

All-Share records an all-time high... Bullish sentiment prevailed on the market as benchmark indices reached their all-time highs in the session under review. The All-Share Index jumped 7.65% to 14077.59pts surpassing the 14000pts mark while, the Industrials flared 7.66% to end at 46553.45pts. The ZSE Top Ten was the greatest gainer amongst the indices on a 9.25% uplift to 9393.29pts while, the Mid-Cap Index advanced 3.32% to end at 22583.29pts. Hippo valley headlined the winners of the day as it garnered a whopping 19.60% to $334.8933 while, apparel retailer Edgars grew 10.33% to settle at $4.5338. Meikles put on 9.42% to close at $140.0541 while, SeedCo Limited rose 9.19% to $142.6562. Construction group Masimba capped the top five risers of the day on a 8.70% to $50.0000. Other notable gainers of the day were Econet (6.46%), Delta (5.64%), Cassava (4.13%), Simbisa (3.84%) and Innscor (2.48%). The duo of Mashonaland and First Mutual Holdings led the fallers’ pack on a similar 7.77% decline to settle at $3.0448 and $20.1894 apiece. General Beltings Shed 7.51% to $1.8040 as logistics group Unifreight trimmed 3.23% to $30.0000. Star Africa completed the top five shakers of the day on a 3.22% loss to $1.4136. The market closed with a positive breadth of three as eighteen stocks gained against fifteen fallers. Volumes declined 35.94% to 8.63% as Star Africa claimed 47.24% of the total volumes traded while, Turnall, FBC, Tanganda and Delta contributed a combined 30.71%. Value outturn slipped 4.85% to $450.74m as Delta, Innscor, Hippo and Tanganda accounted for 26.87%, 18.57%, 17.47% and 10.20% of the aggregate that order. Padenga remained stable at USD$0.2100 as 18,800 shares worth USD$3,948.00 exchanged hands. The two ETFs traded mixed as the Morgan and Co ETF let go 0.67% to $13.6127 while, the Old Mutual added 2.75% to $8.0535.