EFE Securities •
2 years ago •
Market Commentary
Market Comment - 15.02.2022
Positive trajectory continues... The positive trajectory continued on the ZSE, for the eleventh consecutive session. The All-Share Index gained 2.13% to 14550.63pts while, the old Industrials advanced 2.14% to 48123.07pts. The Blue-Chip Index was up 1.89% to 9641.24pts lifted by gains in Delta, Econet and National Foods. The Mid-Cap Index was the top performer amongst the indices as it rose 3.06% to 23962.97pts. A total of thirty-three counters registered price movements, distributed into twenty gainers and thirteen fallers to leave the market with a positive breadth of seven. Heavy cap counter National Foods topped the risers’ set of the day as it surged 19.87% to $1680.0000, trailed by SeedCo that buttressed prior sessions gains as it charged 19.83% to $205.0806. Banking group NMB added 15.12% to $13.65000 while, spirit and AFDIS extended 8.92% to $138.3489. Mashonaland holdings capped the top five gainers of the day as it improved by 6.00% to $2.7913 reversing yesterday’s losses. Unifreight led the laggards of the day after declining 20% to $24.0000, followed by construction group Masimba that eased 9.91% to $45.0006. Medtech continued to lose ground, closing 8% softer at $23.0000. CBZ was 6.62% lower at $86.0264 as conglomerate Innscor competed the top five winners of the day on a 3.53% loss to $253.4253. Activity aggregates improved as volumes traded jumped by 107.54% to see 11.79m shares exchanging hands while, turnover surged 464.60% to $1.24bn. Masimba led the volume aggregates as it claimed 22.48%, trailed by CBZ and Econet that contributed 11.44% and 10.55% respectively. SeedCo, Delta, Afdis, and Econet accounted for a combined 56.52% of the value aggregate. A total of 143,269 units worth $1.55m exchanged hands in the two ETFFs. On the VFEX, Padenga was stable at US$0.2100 as 5,606 shares worth US$1,177.2600 traded. Elsewhere, OKZIM released a third quarter trading update in which the retailer reported a 29% increase in revenue for the quarter in inflation adjusted terms.