EFE Securities •

2 years ago •

Market Commentary

Market Comment - 12.04.2022

Indices record all-time highs... Bullish sentiment prevailed on the bourse as major benchmark indices reached their all-time highs in Tuesday’s trades. The primary All-Share Index jumped 8.28% to 19298.27pts while, the segregated Industrials rallied 8.31% to 63775.24pts as it breezed past the 60000pts mark to post a YTD gain of 75.47%. The Mid-Cap Index rose 5.11% to 31405.29pts while, the ZSE Top Ten Index surged 9.42% to 12823.24pts. Thirty-seven counters advanced against four that lost ground, leaving the market with a positive breadth of thirty-three. Fidelity Life and Hippo Valley were the top risers of the day as the duo gained an identical 20.00% to close at $15.6000 and $360.0000 apiece. Retailer OKZIM followed on a 19.38% improvement to $37.2844 as brick manufacturer Willdale garnered 19.30% to $3.8841. Top capitalized stock Econet soared 19.03% to $178.6328, having traded an intraday high of $180.0500. Leading the laggards of the day was Turnall that dipped 12.26% to end pegged $7.0192 while, banking group FBC trailed at it succumbed 5.37% to $46.2375. Logistics concern Unifreight dropped 5.30% to $31.7250 while, clothing retailer Edgars capped the fallers’ pack on a 1.08% retreat to $5.0095. Zimplow was the major volume driver for the session as it accounted for 74.25% of the outturn. The volumes category was anchored by Zimplow, Delta and National Foods that contributed a combined 78.61% of the total. The Datvest ETF declined 1.74% to $1.8588 on 1,540,750 units while, the Morgan & Co ticked up 5.38% to $15.8924 on 804 units. Nickel miner Bindura grew 4.17% to USD$0.0500 as Padenga traded 4,695 shares at a stable price of $0.2105.