EFE Securities •

2 years ago •

Market Commentary

Market Comment - 15.03.2022

Losing streak extends... The ZSE extended losses in Tuesday’ s session as twenty-five bears charged on four bulls to see the market close with a negative breadth of twenty-one. The All-Share Index lost 1.18% to close at 14362.66pts while, the Industrial Index was 1.19% weaker at 47478.14pts. The Mid-Cap Index dropped 1.18% to 24116.02pts as the Top Ten Index went down 1.22% to 9453.06pts dragged mainly by Econet, Ecocash and Innscor. Topping the fallers’ list was banking group NMB Bank which eased 11.68% to $11.0394, trailed by Zimre Holdings with a 7.03% fall to $3.6908. Medtech Holdings retreated 6.91% to $20.5000 as hotelier African Sun shed 6.58% to settle at $6.8722. Spirits and wines manufacturer Afdis completed the top five laggards of the day on a 6.38% trim to $220.0000. Plastics manufacturer Proplastics headlined the gainers of the day as it put on 6.66% to $31.9984, followed by Mashonaland Holdings that went up 4.44% to $3.1333. Turnall Holdings advanced 4.17% to $5.0000 while, fast foods group Simbisa Brands capped the winners of the day after inching up 0.35% to $180.7003. Activity aggregates were subdued as turnover dropped a further 44.95% to $262.55m from prior session while, volume of shares dipped 38.28% to 2.87m. The major value drivers of the day were Hippo, Delta and Econet that contributed a shared 82.01% of the outturn. Simbisa, Hippo, Econet and Delta claimed 27.19%, 13.55%, 13.22% and 11.76% of the volume total apiece. The ETFs closed in the negative territory as Datvest plunged 7.94% to $1.7301 on 966,615 units while, Morgan and Co retreated 2.88% to $14.1636 on 5,431units. The Old Mutual ETF succumbed 0.84% to $7.9374 on 19,516 units worth $154,906.84. On VFEX, Bindura traded 240,369 shares at a stable price of USD$0.0540.