EFE Securities •

1 year ago •

Market Commentary

Market Comment - 16.08.2022

Losing streak stretches... The losing streak continued as the mainstream All Share Index fell 1.80% to 14821.97pts. Heavies dragged down the ZSE Top 10 Index to see it close 1.76% lower to 8990.45pts. The ZSE Agriculture Index retreated 1.63% to 88.06pts while, the Mid Cap Index dropped 1.99% to 30448.09pts. Tobacco processor TSL led the fallers of the day as it lost 15.00% to $72.2500 while, hotel group Rainbow Tourism slumped 12.78% to $7.8500. First Mutual Properties went down 8.30% to $7.6481 while, fintech group Ecocash Holdings trimmed 6.97% to $42.9500. Hotelier African Sun completed the top five fallers’ pack on a 5.51% decline to $16.2857. The market recorded a negative breadth of nine as seventeen stocks declined against eight that fared well. Clothing retailer Edgars topped the gainers’ set with a 14.81% surge to $7.7500, trailed by bankers First Capital which rose 11.93% to end at $7.8357. Zimre Holdings was up 6.67% to end pegged $4.0000 as diversified agro-concern Ariston gained 4.00% to trade at $2.6000. Beverages giant Delta ticked up 0.67% to close the day at $220.0869 on resurgent demand. Activity aggregates were mixed as reflected in value outturn that declined 12.02% to $367.55m while, volumes traded enjoyed a 35.83% upsurge to 6.20m shares. OK Zimbabwe emerged as the major volume driver in the session as it contributed 53.56% with Mashonaland Holdings, Delta, FBC and Turnall claiming 12.39%, 10.82%, 7.90% and 4.26% in that order. Delta and OK Zimbabwe contributed a combined 67.25% to the value outturn. On the VFEX, Bindura tumbled 1.29% to USD$0.0306 on 97,300 shares while, Padenga improved 0.96% to USD$0.3362 on 17,279 shares. Datvest and Old Mutual ETF gave up 2.82% and 1.35% to end pegged at $1.6519 and $6.8600 respectively. Morgan & Co ETF was the sole riser amongst the ETFs as it grew 1.92% to $26.5000.