EFE Securities •

1 year ago •

Market Commentary

Market Comment - 14.09.2022

ZSE in tremendous fall... The market had a tremendous fall in the mid-week session as the primary All-share Index succumbed 6.53% to 10917.96pts while, the Mid-Cap Index gave up 4.08% to 27048.05pts. The ZSE Agriculture Index trimmed 3.22% to 68.20pts with the ZSE Top Ten Index dipping 7.97% to 6,027.66pts. Tea producers Tanganda, headlined the fallers’ pack of the day on a 14.97% slump to $104.5000, trailed by Axia which slipped 14.92% to $33.9500. Telecoms giant Econet Wireless went down 14.87% to end at $63.6128, OKZim declined 14.55% to $30.6222. Delta Corporation capped the top five losers’ list on a 14.54% slide to close the day at $134.2760. Banking group First capital was the top riser of the day on a 7.22% uplift to $8.1458 followed by CFI Holdings which advanced 2.50% to $410.0000 on scrappy 300 shares. Zimre Holdings Limited ticked up 1.17% to $4.4807 as Hoteliers RTG added 0.95% to $7.4000. Completing the risers’ set was clothing retailer Edgars which improved 0.89% to end pegged at $5.6500. Activity aggregates were depressed in Wednesday’s session as volumes traded succumbed 76.45% to 1.79m shares while, value traded plunged 68.83% to $139.31m. The market recorded a negative breadth of eight as eighteen counters lost ground against ten gainers. Econet and Delta were the top volume and value drivers of the day as the duo claimed a combined 78.40% of the former and 83.63% of the latter. Bindura was the only counter that registered trades on the VFEX as it slipped 0.32% to close at USD$0.0307. The Datvest ETF improved 0.17% to $1.4932 while, the Made In Zimbabwe and the Old Mutual ETFs shed 0.01% and 0.55% to $1.2300 and $4.4692 apiece.