EFE Securities •
2 years ago •
Market Commentary
Market Comment - 14.07.2022
Market rebounds as Cass Saddle ETF launches... Market rebounded in the penultimate session of the week as the All-Share Index gained 0.69% to 16109.31pts while, the Blue-Chip Index edged up 0.92% to 9840.59pts buoyed by Delta, Econet and Innscor. The Mid Cap Index rose 0.55% to 32886.93pts while, on the contrary the Agriculture Index was the only loser amongst its kind as dropped 0.41% to 89.98pts. Cement manufacturer Lafarge headlined the gainers of the day as it jumped 14.98% to trade at $143.5000, trailed by hotelier African Sun that added 10.25% to $13.0000. Sugar manufacturer Star Africa was 8.53% firmer at $1.7706 while, Mashonaland Holdings closed at $5.0000 after a 4.16% rise. OK Zimbabwe capped the top five best performers of the day as it advanced 3.88% to $29.0295. National Tyre Services led the worst performers of the day as it declined 14.58% to $10.2500, followed by First Mutual Holdings that lost 12.27% to close with a VWAP of $17.5455. Turnall was 9.86% weaker at $4.0000 while, brick manufacturers Willdale trimmed 9.08% to close pegged at $1.7503. First Mutual Properties capped the top five losers of the day as it plunged 6.63% to settle at $7.4694. Activity aggregates improved in the session as volumes traded jumped by 149.54% to see 10.28m shares exchange hands, while, turnover ballooned by 121.31% to $966.71m. The threesome of Econet, Zimre holdings and Ecocash anchored the volume aggregate of the day as the trio claimed a combined 80.12% of the total. Econet, Delta, Innscor and Ecocash led the value leaders of the day with respective contributions of 38.96%, 22.64%, 14.44% and 12.62%. The ZSE ETF Index rose by 1.67% to 386.36pts as the market welcomes Cass Saddle ETF which launched today and will commence trading tomorrow. Morgan and Co MCS ticked up 3.70% to $28.0000 while, the Made in ZIM and Old Mutual Top Ten ETFs lost 2.05% and 1.93% to see the former close at $1.2053 while, the later ended at $9.0473. The Datvest MCS ETF was down 0.18% to $1.8181.