EFE Securities •

1 year ago •

Market Commentary

Market Comment - 12.10.2022

ZSE register minimal gains... The market registered slight gains in the mid-week session as the primary All Share Index edged up 0.63% to 13487.15pts while, the Mid-cap Index advanced 2.23% to 29920.19pts. Meanwhile, the Blue-chip Index dropped a marginal 0.08% to 7921.22pts while, the ZSE Agriculture Index slipped 0.65% to 68.93pts. Milk processor Dairibord Holdings led the winners of the day on a 14.97% jump to close the day at $29.3000, trailed by First Capital Bank that surged 11.05% to $10.0000. Axia went up 10.62% to $55.3376 while, spirits and wine manufacturer Afdis climbed 8.33% to $299.0000. Ariston capped the top five gainers’ list on a 6.43% uplift to end the session pegged at $3.9203. Leading the laggards of the day was property concern First Mutual Property that slumped 13.67% to $6.0000 while, Zimre Holdings shed 8.85% to end at $4.5576. Cigarette manufacturers BAT trimmed 5.00% to $2850.0000 while, sugar processors Hippo Valley completed the losers’ list on a 2.90% slide to end pegged at $200.9500. The market closed with a positive breadth of sixteen after twenty counters gained their ground against four that faltered. Activity aggregates were depressed in the session as volumes plunged 67.44% to 8.97m while, value traded slipped 56.34% to $600.47m. Telecoms giant Econet and Ecocash Holdings dominated the volumes category with a combined threshold of 59.00% of the aggregate. Other notable volume drivers of the day were Star Africa, Mashonaland holdings and Delta with respective contributions of 7.98%, 7.14% and 6.17%. Heavies Econet, Ecocash and Delta claimed 38.18%, 21.61% and 19.05% of the value aggregate apiece. There were no trades registered on the VFEX. However, three ETFs registered price movements in the session as the trio of Datvest, MIZ and Old Mutual declined 0.05%, 0.70% and 0.14% to close at $1.7092; $1.2000 and $5.1926 respectively.