EFE Securities •

2 years ago •

Market Commentary

Market Comment - 12.01.2022

ZSE reverses prior session losses... The midweek session was characterized by gains with major indices closing in the black. The All-Share Index added 2.33% to close at 37083.99pts while, the Industrial Index put on an almost similar 2.34% to end at 11217.51pts. The Top Ten Index was up 2.82% to 7126.41pts. Leading the risers of the day was TSL which leaped 20.00% to close at $90.0000 trailed by beverages giant Delta that added 8.28% to $172.4413. Fast foods retailer Innscor advanced 5.60% to $185.9649 as fintech group Cassava Smartech extended 3.45% to $45.5219. General Beltings completed the gainers’ list on a 3.06% increase to $2.1715. The worst faller of the day was Medtech Holdings which slipped 19.90% to trade at $23.1500 while, insurer First Mutual Holdings followed on a 10.53% fall to $17.0000. First Mutual Properties retreated 6.04% to end at $7.0000 while, banking group CBZ Holdings went down 5.51% to $70.9477. Mashonaland Holdings lost 3.24% to $2.5006 as it capped the top five fallers of the day. The market was equally distributed at seventeen apiece. Activity aggregates were mixed as volumes traded shed 64.95% to 8.2m shares while, turnover rose 283.31% to $669.7m. Foreign sales were $24,425,670.00 and buys stood at $342,160 to register a net funds outflow position. Econet emerged as the most liquid stock of the day dominating the volume and value sections claiming 76.11% of the former and 80.23% of the latter. Morgan and Co ETF inched up 0.74% to $12.7222 as 32,282 units valued at $410,697.45 exchanged hands while, the Old Mutual ETF declined 1.54% to $4.5580. Padenga sailed stable at USD$0.2100 as 16,243 shares worth USD$3,411.0300 traded.