EFE Securities •

2 years ago •

Market Commentary

Market Comment - 11.04.2022

ZSE positive trend continues... The market continued to trend northwards in Monday’s session buoyed by resurgent demand witnessed across the board as twenty-nine counters gained against four losers. The primary All Share Index put on 3.52% to close at 17822.95pts while, the Industrial Index was up 3.54% at 58884.37pts. The ZSE Top Ten rose 3.07% to 11718.95pts, as the Mid Cap Index outperformed other indices on a 4.94% uplift to 29879.83pts. Headlining the winners’ pack was NMB and Tanganda that garnered a similar 20% to settle at respective prices of $19.2000 and $144.0000. Trailing was packaging group Nampak that jumped 19.87% to trade at $18.1000. Agriculture concern CFI advanced 15.34% to close at a YTD high of $150.0000 while, financial services group ZB capped the top five risers of the day on a 10.91% improvement to $61.0000. Only four counters traded in the negative territory as Zimplow succumbed 9.03% to $21.0000, followed by Medtech that shed 7.41% to end pegged at $16.6667. General Beltings trimmed 1.65% to $1.5437 while, Hippo-Valley completed the fallers’ set on a negligible 0.01% fall to $300.0000. Activity aggregates were subdued in Monday’s session as volumes dipped 76.57% to 1.88m shares, yielding a turnover of $242.79m which was a 44.93% drop from prior session. Top volume drivers of the day were Ecocash, First Capital, Hippo and Econet that claimed a combined 57.26%. Hippo, Simbisa, Innscor, Ecocash and Econet anchored the value outturn of the day on respective contributions of 26.37%, 19.89%, 12.22%, 12.21% and 11.74%. The three ETFs registered gains in the session as the Datvest added 0.77% to $1.8917, Morgan and Co went up 0.76% to $15.0808 while, Old Mutual edged up 0.01% to $8.4400. No trades were recorded on the VFEX market.