EFE Securities •

1 year ago •

Market Commentary

Market Comment - 18.07.2022

Quiet session in week opener ... The ZSE ''s trades were meagre in the week-opener as volume of shares traded plunged 85.64% to 0.82m while, turnover plummeted 84.98% to $66. 77m.Top volume drivers of the day were Econet, Ariston, OKZIM and Delta that claimed a combined 64.30% of the outturn. Value leaders of the day were Delta and Econet with respective contributions of 35.15% and 31.27%. The primary All Share Index put on 0.44% to 16218.36pts while, the Blue-chip Index rose 0.66% to 9933.00pts. The Mid Cap Index improved 0.78% to end at 32880.87pts. On the contrary, the ZSE Agriculture Index retreated 0.15% to close at 89.81pts. Hotelier African Sun led the upside of the market on a 15.00% jump to $14.9500 trailed by, brick makers Willdale that improved 14.87% to $1.7900 reversing previous session’s losses. Zimre Holdings surged 13.97% to $4.5000 as Axia advanced 12.08% to $80.0000. Fintech group Ecocash gained 11.56% to settle at a vwap of $58.2769. Cement manufacturer Lafarge dipped 14.98% to $122.000 while, agriculture concern Ariston dropped 11.26% to $2.1297. Property concern FMP let go 10.66% to $7.6000 as Bridgefort Capital slipped 4.99% to $19.0000. Beverages group Delta trimmed 3.64% to $269.6034 on 87,296 shares. The market closed with a negative breadth of three as sixteen counters traded in the negative territory while, thirteen gained. Cass Saddle ETF ticked up 14.78% to $1.3200 while, Old Mutual ETF grew 1.36% to $9.1900. Datvest MCS retreated 4.81% to $1.7291 as Made In Zimbabwe ETF shed 0.77% to $1.2205. A total of 820,607 units worth $1.14m exchanged hands in four ETFs. On the VFEX, Padenga traded 1,374 shares worth USD$412.2000 at an unchanged price of USD$0.3000.