EFE Securities •

1 year ago •

Market Commentary

Market Comment - 14.10.2022

Heavies sustain ZSE gains... ZSE continued to trek northwards in week-ending session on the back of gains in selected heavies. The primary All-Share Index notched 1.77% to close at 13831.97pts while, the ZSE Top Ten Index rallied 2.65% to 8221.85pts. The ZSE Agriculture Index put on 0.36% to 69.98pts. On the contrary, the Mid-Cap Index shrunk 0.09% to end at 29911.28pts. Beverages group Delta was the best performer of the day as it surged 6.80% to $226.9694, having traded an intra-day high of $229.9500. Trailing was Axia that jumped 4.56% to $58.0314 while, conglomerate Innscor moved up 3.25% to $281.0297. Hippo Valley Estates ticked up 3.01% to settle at $207.0000 as Star Africa completed the top five winners on a 2.56% upsurge to $1.6500. ART was the top laggard of the day having dipped 12.18% to $17.5644 as National Tyre Services shaved 7.69% to $12.0000. First Mutual Holdings was not spared in the massacre as the insurer came off 3.15% to $25.8600. Banking group First Capital softened 3.12% to trade at $9.6882 while, hotelier African Sun held the fifth position of the fallers’ table after declining 3.10% to $16.9583. Volume of shares traded plunged 13.18% to 2.69m while, market spend plummeted 51.95% to $197.44m. Volume leaders of the day were Econet, ZB Financial, Mashonaland Holdings and Star Africa with a shared contribution of 79.09%. Value leaders of the day were the tripartite of Econet, ZB Financial and Delta which accounted for 45.02%, 17.76% and 16.62% respectively. The ZSE ETF Index edged up 7.53% to 359.16pts as 220,944 units worth $735,850.20 exchanged hands. The Old Mutual and the Datvest ETFs registered marginal gains of 0.15% and 0.01% to close at respective prices of $5.2079 and $1.7102. The VFEX market was mixed as Padenga gained 0.03% to settle at USD$0.3395 while, SeedCo International tumbled 4.88% to USD$0.3800. A total of 649,867 shares worth USD$240,892.67 traded on the VFEX.