EFE Securities •

1 year ago •

Market Commentary

Market Comment - 11.08.2022

ZSE retreats further... The market continued to shrink as the primary All share Index lost 2.25% to 15302.35pts while, the Top 10 Index was down 2.81% to 9303.29pts. The ZSE-Agriculture Index dropped 0.33% to 89.57pts as the Mid Cap Index trimmed 1.56% to 31282.13pts. Clothing retailer, Truworths topped the gainers’ list on an 14.47% uplift to $2.0000, trailed by Mashonaland Holdings that rose 3.86% to end pegged at $4.5024. Life assurers First Mutual Holdings advanced 2.78% to $18.5000 while, Turnall added 2.63% to $4.6900. Zimre Holdings Limited completed the winners of the day as it added 0.99% to close at $3.7498. Zimplow Holdings led the losers set after dropping 14.47% to $16.2500, followed by bankers First Capital that shed 12.11% to $7.4971. Masimba Holdings gave up 10.00% to $45.0000 while, Nampak let go 8.33% to $11.0000. Axia Corporation rounded off the top five losers on a 8.25% slump to $67.9500. Activity aggregates were depressed in the session as volumes dropped 33.74% to 3.07m while, turnover declined 16.04% to $225.67m. The market closed with a negative breadth of ten as eighteen counters advanced against eight that lost ground. The top volume leaders of the day were Truworths, Delta, OK Zim, Simbisa and Ecocash which claimed a shared contribution of 85.14%. Top value leaders were Delta, Simbisa, Innscor and Econet with respective contributions of 57.86%, 12.31%, 10.05% and 6.055%. On the VFEX, Bindura grew 1.64% to USD$0.0309 as it traded 80,554 shares while, Padenga rose by 0.30% to close at $0.3330. Seed -Co International jumped 19.93% to 0.3370 on a paltry 128 shares that exchanged hands in the session. The Old Mutual ETF went down 0.67% to $6.90000 as the MIZ ETF tumbled 8.47% to $1.1500. The Datvest ETF was the sole riser, adding 2.86% to close at $1.6949.