EFE Securities •

1 year ago •

Market Commentary

Market Comment - 11.10.2022

FBC block trade highlights the session… Banking group FBC Holdings highlighted Tuesday’s session as circa 21m shares worth $1.05bn exchanged hands in the name. The trade accounted for 76.30% of the total shares traded and 76.45% of the value outturn. Volume of shares traded jumped 50.88% to 27.56m while, turnover grew 14.13% to end at $1.38bn. Leading the gainers’ pack was ART Corporation that swelled 15.00% to $19.5500 while, mining house RioZim went up 14.78% to $132.0000. The banking duo FBC Holdings and ZB surged 11.10% and 10.00% to end pegged at respective prices of $49.9958 and $66.0000. Retailer OK Zimbabwe capped the risers’ set on a 5.97% gain that took its price to $32.9225. First Capital was the worst faller of the day after dipping 10.12% to close at $9.0047 as tobacco processor TSL Limited slipped 6.75% to $37.3000. Hotelier African Sun suffered a 5.64% knock to $17.0971 while, Seed Co Limited slid 3.37% to end pegged at $77.3034. Agriculture concern Ariston Holdings dropped 3.07% to $3.6833 as it completed the top five decliners of the day. Gainers outweighed fallers by a count of eight, leaving the market with a positive breadth. The primary All-Share Index edged up 1.24% to 13404.34pts while, the ZSE Top 10 Index was 1.28% firmer at 7927.47pts. The Mid-Cap Index added 1.20% to close at 29268.57pts as the ZSE Agriculture Index faltered 0.59% to 69.38pts. Foreigners were net sellers in the session as foreign sales claimed 78.82% of the turnover while, purchases accounted for a mere 0.78% of the same. The ETF segment traded 86,183 units, yielding a turnover of $260,512.90. The Cass Saddle EFT emerged the only gainer amongst the ETFs as it shored up 5.45% to $2.0000. Morgan & Co MCS succumbed 6.75% to $25.1765 while, the MIZ declined 5.98% to $1.2084. Old Mutual ETF eased 1.84% to $5.2000 as the Datvest ETF trimmed 0.25% to close at $1.71000.