EFE Securities •

2 years ago •

Market Commentary

Market Comment - 16.05.2022

FBC anchors activity aggregates... Banking group FBC highlighted the first trading day of the week as 3.45m shares worth $248.64m, representing 71.59% of total volumes traded and 60.31% of the value aggregate. The other notable value driver of the day was Delta that claimed 12.84% of the aggregate. Volume of shares traded jumped 115.03% to 4.83m while, turnover declined 98.81% to $4.83m. The market closed with a negative breadth of eleven as twenty counters registered losses against nine risers. NTS led the laggards of the day on a 14.73% drop to $13.75000, trailed by the duo of apparel retailers Truworths and Edgars that dipped 14.29% and 7.85% to close at $1.5000 and $4.5783 respectively. Banking group First Capital shed 6.70% to settle at $10.0457 while, Axia capped the top five shakers of the day on a 6.52% retreat to $113.2991. CFI headlined the winners of the day on 14.78% climb to $264.0000, followed by Zimre Holdings that surged 10.34% to $5.5282. Mashonaland Holdings put on 9.73% to $3.5412 while, Zimpapers added 7.13% to end pegged at $6.2500 on scrappy 100 shares. Agric-concern Ariston completed the top five gainers of the day on a 2.31% rise to $3.5104. The four benchmark indices in our review weakened further with the mainstream All Share Index trimming 1.44% to 21863.24pts while, the Industrial Index lost an almost identical 1.45% to 72101.47pts. The Blue-Chips Index came off 1.64% to 14095.90pts while, the Mid-Cap was down 0.84% at 38838.95pts. On the VFEX, Bindura eased 3.16% to close at $0.0460 on 26,630 shares. The three ETFs tumbled in the session as the Morgan ETF slipped 9.68% to $22.5807, Old Mutual ETF let go 1.67% to $9.1001 while, the Datvest ETF fell 0.42% to $1.9693.