EFE Securities •
1 year ago •
Market Commentary
Market Comment - 12.12.2022
ZSE regains in new week... The market recovered in the week-opener as benchmark indices in our review closed with minimal gains. The mainstream All Share Index put on 0.70% to 14828.87pts while, the ZSE Top Ten Index ticked up 0.89% to 8638.48pts. The Mid Cap Index rose 0.34% to 33359.42pts as the ZSE Agriculture Index added 0.03% to 70.50pts. Leading the winners’ pack was ART that surged 8.45% to $15.4000 on 900 shares. Following was banking group First Capital that edged up 7.91% to $10.8102. Telecoms giant Econet grew 5.84% to end at a vwap of $78.3750 having traded an intraday high of $80.0000. Star Africa moved up 1.09% to $1.4152 while, Delta shored up 0.50% to close at a vwap of $245.4260. On the downside was Zimre Holdings that trimmed 4.76% to $4.2384 trailed by General Beltings that let go 2.71% to $1.7025. Hotelier group RTG and conglomerate Meikles slipped 0.63% and 0.33% to settle at $7.8500 and $102.0000 apiece. Agriculture concern Ariston capped the top five shakers of the day after shedding 0.29% to close at $3.4000. Activity aggregates were depressed in Monday’s session as reflected in volumes that succumbed 87.01% to 1.53m as turnover in like manner, dipped 63.12% to $124.63m. Top volume drivers of the day were Delta (25.80%), Star Africa (18.90%), Ecocash (16.87%) and NMB (16.15%). Delta and Innscor anchored the value outturn with respective contributions of 61.18% and 21.05%. On the ETF section, MIZ tumbled 5.10% to $1.2337 while, the Datvest ETF was unchanged at $1.6400. The Tigere REIT closed at $33.9997 as 492,741 units worth $16.75m exchanged hands. Three counters were active on the VFEX as 39,820 shares traded in the stocks. Bindura garnered 20.00% to end pegged at USD$0.0288 while, Simbisa amassed 1.62% to USD$0.3100. Padenga was the only faller as it slid 0.54% to USD$0.2391. In other news, Tanganda released their FY2022 results in which PAT jumped 128.8% to $582.70m and declared a final dividend of 0.006 US$ cents per share.