EFE Securities •

2 years ago •

Market Commentary

Market Comment - 17.05.2022

ZSE continues to lose ground... The market continued to lose its glitter as it recorded losses for the tenth consecutive session in a row. The All-share Index declined 2.23% to close at 21376.04pts while, the segregated Industrials lost an almost similar 2.25% to settle at 70479.48pts. The Mid-Cap Index lost 0.60% to 38605.48pts while, the Blue-Chip Index shed 2.81% to 13699.86pts. Digital media group Zimpapers headlined the worst performers of the day on a 13.78% plunge to end pegged at $5.3887, trailed by construction group Masimba that trimmed 8.22% to $63.3333. Smartech Ecocash was 6.23% weaker at $103.1846 while, National Foods closed the day pegged at $2066.6667 after a 6.06% loss. Hotelier Rainbow Tourism Group fell 6.04% to trade at $7.0000. Fallers outstripped risers in the session by a count of eight to see the market close with a negative breadth. Brick manufacturer Willdale led the gainers of the day as it surged 13.39% to settle at $3.5000 while, Turnall advanced 7.00% to close at $6.4200. Mashonaland Holdings edged up 5.13% to $3.7228 while, dairy producer Dairiboard added 4.19% to end at $52.0968. Tanganda tea company capped the top five gainers of the day on a 1.60% rise to $230.0000. Activity aggregates were depressed in the session as volumes dipped 37.53% to see 3.01m shares swap hands while, turnover succumbed 19.80% to $330.88m. The trio of African Sun, Delta and First Capital led the volume aggregate as they claimed a combined 55.31% of the total. Beverages group Delta was the top value leader of the day as it claimed 54.59% of the turnover while, Econet claimed 16.81% of the same. The three ETFs traded mixed in the session, as the Datvest MCS fell 1.79% to $1.9341 while, the Morgan & Co ETF jumped 2.17% to $23.0710. The Old Mutual Top Ten ETF was 2.21% stronger at $9.3016. Elsewhere, on the VFEX nickel miner Bindura was stable at US$0.0460 as 21,952 shares worth $1,009.7920 traded.