EFE Securities •
2 years ago •
Market Commentary
Market Comment - 13.01.2022
Resurgent demand in heavies lift the market... ZSE continued on the recovery path in the penultimate session of the week, on the back of resurgent demand witnessed mainly in heavies. The All-share Index was 4.60% up at 11733.61pts while, the segregated Industrials rose 4.62% to 28796.69pts. The Blue-Chip Index surged 5.57% to 7523.41pts lifted by gains in Innscor, Econet, Delta and Meikles. Milk processor Dairibord headlined the winners of the day as it advanced 19.76% to $37.1250, trailed by banking group NMB that put on 15.24% to $15.0000. Conglomerate Innscor was 13.92% firmer at $211.8575 while, agricultural concern CFI put on 13.27% to trade at $102.0000. Beverages manufacturer Delta added 10.05% to close at $189.7583 having traded an intraday high of $206.9000. Clothing retailer Truworths led the laggards of the day on a 8.70% drop to $2.1000, trailed by microfinance services group Getbucks that eased 6.50% to $5.2361. General beltings gave up 4.15% to settle at $2.0814 while, apparel retailer Edgars was 2.84% down to $4.8579. Medtech extended yesterday’s losses as it shed 2.63% to $22.5417 to complete the top five fallers pack of the day. A total of thirty-three counters registered price movements distributed into twenty-one gainers and twelve fallers, to leave the market with a positive breadth of nine. Activity aggregates for the day faltered as turnover declined by 52.14% to $320.5m while, volume of shares traded was 43.04% weaker at 4.65m. The trio of Star Africa, Econet and Cassava were the volume leaders of the day as they claimed a combined foothold of 51.43% of the aggregate. Value outturn was anchored by Innscor, Delta and Econet with respective contributions of 23.55%, 19.82% and 17.54%. Morgan & CO ETF jumped 17.90% to close at a record high of $15.0000 while, the Old Mutual Top Ten ETF improved 0.30% to $4.5715. A combined total of 4,952,962 units worth $22.65m exchanged hands in the two ETFs. Elsewhere, on the VFEX, Padenga was stable at USD$0.2100 as 26,078 shares worth USD$5,476.38 traded while, Seedco International registered its first trade of the year as it rose 1.25% to USD$0.2840 with 2,113 shares worth USD$600.0920 exchanging hands.