EFE Securities •

2 years ago •

Market Commentary

Market Comment - 12.07.2022

ZSE swings back to losses... The market reversed prior session gains mainly weighed down by heavy cap counters. The primary All-share Index retreated 2.42% to 16433.39pts while, the Top 10 Index fell 2.47% to finish at 9998.98pts. The Agriculture Index dropped 1.74% to 92.61pts as the Mid-cap trimmed 2.30% to 33504.72pts. The laggards’ pack was headlined by Tanganda Tea Company which succumbed 14.49% to $144.0000 trailed by Zimre Holdings that gave up 14.37% to end at $3.9818. Brick makers Willdale lost 14.29% to $2.1174 as banking group First Capital declined 11.60% to $9.6800. Capping the top five fallers of the day was fintech group Ecocash that eased 9.97% to $53.2776. NTS rose 11.02% to $12.0000 as it led the gainers of the day while, hotelier African Sun followed on 6.43% lift to $11.7917. ART holdings advanced 5.88% to $18.0000 as fast foods outlet Simbisa added 1.56% to $173.2883. Proplastics completed the set as it inched up 0.74% to $25.6890. Twenty counters declined against eleven that gained pace to leave a resultant market breadth of nine. Activity aggregates traded mixed in the session as the volume of shares traded sunk 50.53% to 11.99m while, turnover was 19.49% firmer at $824.29m. Econet and Ecocash were the most liquid counters for the day contributing 68.51% of the value outturn and 53.90% of the volume aggregate. Other notable volume drivers of the day were Mashonaland (15.43%) and Zimre (10.89%). On the ETF market, 442,081 units worth $1.77m exchanged hands. The Datvest MCS shed 2.87% to $1.8985 while, Morgan & Co ETF trimmed 8.76% to $26.0000. Old Mutual ETF was the only gainer with a 3.34% uplift to $9.5633. On the VFEX, Padenga Holdings soared 15.38% to USD$0.3000 as 308 shares traded. Nickel miner Bindura traded 60,100 shares worth USD$2,103.5000 at a stable price of USD$0.0350.