EFE Securities •

2 years ago •

Market Commentary

Market Comment - 11.03.2022

ZSE tumbles in Friday''s session... The market tumbled in weekending trades recording its fifth consecutive session of loses. The primary All Share Index and the Industrials let go an identical 0.50% to close 14655.18pts and 48448.74pts respectively. The ZSE Top Ten Index retreated 0.56% to end pegged at 9669.32pts while, the Mid Cap shed 0.28% to 24472.02pts. Headlining the shakers of the day was African Sun that dipped 12.62% to settle at $8.6503. Trailing was banking group NMB that dropped 10.72% to close at $12.4999 having traded a low of $12.0000. Property concern FMP stumbled 6.73% to land at $6.5286 while, Mashonaland trimmed 6.32% to $3.0227. Turnall completed the top five fallers of the day after a 4% slump to end pegged at $4.8000. Partially mitigating today’s losses were gains in Proplastics that advanced 11.11% to $30.0000. Zimre holdings put on 7.06% to $3.9090 as spirits and wines manufacturer Afdis added 6.67% to settle at $234.6667 on a paltry 380 shares. Brick manufacturer Willdale gained 3.98% to close at $2.9633 as insurer FML capped the top five winners of the day on a 3.17% uplift to $19.5000. The market closed in bearish mode as twenty-one counters lost the ground while, ten gained to close with a negative breadth of eleven. Activity aggregates were mixed in Friday’s session as volumes traded ballooned 125.89% to 11.72m while, turnover slipped 2.85% to end at $554.04m. Anchoring the volume aggregate of the day were First Capital, Star Africa and NMB that claimed 28.62%, 17.74% and 16.46% apiece. Heavies Delta and Econet accounted for 39.30% and 12.68% of the turnover in that order. Bindura surged 20% to $0.0540 as 341,100 shares worth USD$18,419.4000 exchanged hands on the VFEX. The Old Mutual ETF was the top faller among the ETFs as it dropped 14.93% to $8.0490 while, Datvest ETF followed on a 7.51% slip to $1.7553. Morgan and Company went down 0.19% to settle at $14.6646.