EFE Securities •

2 years ago •

Market Commentary

Market Comment - 13.04.2022

ZSE rally continues... The market rally persisted into the mid-week session as thirty-four counters gained against three that lost ground, resulting in a positive market breadth of thirty-one. The All-Share Index and the Industrials recorded almost similar gains of 9.22% and 9.25% to end at 21077.08pts and 69674.81pts respectively. The Top Ten Index soared 9.57% to close at 14050.75pts while, the Mid-Cap Index went up 8.22% to 33987.47pts. Spirit and wine manufacturer Afdis was the best performer as it surged 20% to $287.4500, trailed by tea producer Tanganda that rose 19.17% to settle at $174.7703. Fintech group Ecocash Holdings jumped 18.66% to $112.4321 while, TSL Limited added 17.86% to end pegged at $132.0000. Seed processor Seed Co Limited capped the top five risers list on a 17.46% uplift to close at a vwap of $212.6629. Property concern FMP led the fallers of the day as it dropped 7.55% to $11.5566. The duo of banking groups in ZB and NMB completed the losers’ set of the day after trimming 0.72% and 0.69% to see the former close at $60.5586 while, the latter was at $20.4816. Activity aggregates were mixed in the session as volumes traded declined 9.44% to 4.48m shares while, turnover rose 82.37% to $473.54m. Top volume drivers of the day were Zimre Holdings, OKZIM and Econet which claimed 23.28%, 20.35% and 10.34% apiece. The top traded counters by value were Hippo, Delta, Econet and BAT which accounted for a combined 71.02% of the aggregate. On the VFEX, Padenga traded 21,294 shares worth USD$4,482.3870 at a stable price of USD$0. 2105 while, 230,157 shares worth USD$11,507.8500 exchanged hands in Bindura. The ETFs traded mixed as Old Mutual ETF rose 0.79% to $8.5070, Morgan and Co ETF tripped 2.43% to $15.5060 and Datvest ETF slipped 1.26% to $1.8354.