EFE Securities •
2 years ago •
Market Commentary
Market Comment - 14.04.2022
Market maintains a positive trajectory... The market maintained a positive trajectory for the eleventh consecutive session, in the holiday shortened week. The All-Share Index rose 5.09% to 22149.04pts while, the Blue-Chip Index advanced 4.60% to 14697.52pts lifted by gains in Delta, Econet and Simbisa. The Mid-Cap Index was the major gainer amongst its kind as it rose 6.72% to 36270.86pts while, the Industrial Index breached the 70,000pts mark as it jumped 5.11% end pegged at 73231.85pts. Microfinance group Getbucks headlined the gainers of the day as it ballooned 20% to $7.2000, followed by spirit and wines producers AFDIS that extended gains from prior session as it edged up 19.99% to $344.9000. Bankers CBZ surged 19.77% to post a year-to-date gain of 90.06% as it closed at $133.2353 while, ART ticked up 15.20% to $23.0401. Axia capped the top five risers set on a 14.82% uplift to $147.6902. Logistics group Unifreight led the laggards of the day on a 17.42% loss to $26.9000 while, digital and printing media group Zimpapers declined 16.76% to $2.6643. Construction group Masimba retreated 1.29% to $64.0141 while, Dairibord let go of 1.15% to trade at a VWAP of $39.5261. Hippo Valley dropped a negligible 0.000025% to $399.999. Activity aggregates were mixed in the session as volumes traded declined 29.13% to 3.18m shares while, turnover added 22.37% to $597.49m. Top capitalised stock Econet highlighted the activity aggregates of the day as it claimed 31.14% of the volumes and 35.01% of the turnover. The duo of Delta and OKZIM trailed in the volumes category with a combined contribution of 32.36% of the aggregate. Delta, Simbisa, Hippo and Innscor contributed 33.22%, 10.19%, 7.31% and 4.02% of the turnover respectively. ETFs improved in the session as reflected in the Old Mutual ETF that gained 9.44% to $9.3104 while, the Morgan & Co ETF added 6.82% to $16.5635 as the Datvest MCS put on 0.07%. Elsewhere, no trades were recorded on the VFEX. Banking group NMB released its FY21 results in which the group posted a 37% increase in PAT to $1.87b in inflation adjusted terms.