EFE Securities •

2 years ago •

Market Commentary

Market Comment - 11.07.2022

ZSE gains trickle in... Gains trickled in on Monday’s trades, halting its nine-day consecutive losing streak. The mainstream All Share Index put on a marginal 0.16% to 16840.44pts while, the ZSE Top Ten Index added 0.29% to 10252.64pts buoyed by Delta and Ecocash. The ZSE Agriculture Index ticked up 0.53% to 94.25pts as the Mid-Cap Index rose 0.18% to close at 34292.50pts. CFI led the market upsurge on a 12.53% rise to $416.3636, trailed by Zimre Holdings that jumped 12.01% to $4.6500. Mashonaland Holdings improved 10.14% to $4.7997 as Dairibord ticked up 8.70% to settle at $25.0000. Property concern FMP reversed previous session’s losses to close at $8.6667 after a 8.33% lift. The worst faller of the day was Proplastics that dipped 15.00% to $25.5000 followed by cement manufacturer Lafarge that shed 14.99% to $124.8000. Turnall trimmed 13.12% to $4.7000 as SeedCo Limited plummeted 9.22% to $122.4885. Capping the top five laggards of the day was NTS that dropped 9.17% to $10.8091. Volume of shares traded ballooned 604.17% to 24.25m as Dairibord and Mashonaland Holdings claimed 63.60% and 27.89% of the aggregate respectively. Turnover jumped 65.49% to 689.85m with Dairibord and Econet accounting for 55.91% and 16.97% of the outturn apiece. Datvest MCS was the top gainer amongst the indices on a 2.13% uplift to $1.9545, lingering behind was Old Mutual ETF that advanced 0.59% to $9.2546. Morgan and Co MIZ was up 0.05% to $1.2500 while, the MCS ETF was the only decliner on a 0.01% loss to $28.4971. A cumulative of 98,994 shares worth $608,643 exchanged hands in the four ETFs. VFEX recorded no trades and is set to roll out a mobile trading platform by the end of this month. Elsewhere, Unifreight released its FY21 results in which revenue grew by 31.58% to ZWL$3.21bn and a dividend of ZWL$0.5900 was declared.