EFE Securities •

2 years ago •

Market Commentary

Market Comment - 15.06.2022

ZSE falters in midweek trades... The Blue-chip counters dragged down the market in midweek session to see their Index shed 1.70% to 15328.84pts. The primary All-share Index lost 1.43% to 23790.71pts while, the Mid Cap Index declined 0.72% to 42560.78pts. The ZSE-Agriculture Index retreated 0.30% to close at 127.32pts. The market closed with a negative market breadth as gainers outweighed fallers by a count of sixteen. Apparel retailer Truworths led the fallers’ pack on 8.23% slump to $2.2025 while, financial services group ZB dropped 5.33% to $71.0006. Construction group Masimba closed the day at $61.0000 after trimming 5.18% trailed by Ecocash that came off 4.72% to $117.8328. Edgars capped the top five shakers of the day on a 4.38% loss to end the session at $4.4000. Life assurer Fidelity Life headlined the winners of the day on a 13.00% uplift to $22.6000 while, First Mutual Properties surged 11.10% to close the day at $11.0000. Bankers CBZ were also part of the top five winners list after jumping 2.17% to settle at $117.5000, followed by Mashonaland Holdings that advanced 0.80% to end pegged at $6.2438. Hotelier African Sun capped the top five gainers’ list on a 0.32% rise to $24.0000. Activity aggregates were depressed in mid-week session as turnover dropped 43.79% to $353.49m while, volumes dipped 67.36% to 4.72m shares. Mashonaland Holdings, Fbc and Econet were the major volume drivers of the day as they claimed a combined 57.74% of the aggregate. Top value drivers of the day were Econet, Fbc and Delta which claimed 28.58%, 14.92% and 8.36% of the outturn respectively. Bindura was the only counter to trade on the VFEX as it surged 12.22% to close at $0.0450 on 212,355 shares. The Old Mutual ETF went down 0.01% to $11.4783 as the Morgan and Co ETF tumbled 4.71% to $24.4698. The Datvest ETF was the sole riser among the ETFs having ticked up 0.83% to $2.3687