EFE Securities •

2 years ago •

Market Commentary

Market Comment - 18.11.2022

ZSE halts losing streak in scanty gains ... The ZSE halted its eleven-day losing streak to record meagre gains in week-ending trades. The mainstream All Share Index rebounded 0.38% to 13771.09pts while, the ZSE Top Ten Index 0.28% to 7813.39pts. The ZSE Agriculture Index went up 0.36% to end at 73.39pts while, the Mid-Cap Index improved 0.40% to 32801.57pts. Leading the market charge was apparel retailer Edgars that rallied 12.50% to $9.0000 trailed by agriculture concern Ariston that jumped 9.36% to $3.9619. Banking group First Capital hopped 8.16% to $10.2750 as ART soared 2.65% to $15.5000. TSL capped the top five winners of the day on a 2.31% uplift to $42.0000. Trading in the negative territory was General Beltings that dipped 10.00% to $1.8000 followed by African Sun that let go a further 1.96% to $25.0000 despite reports that the hotelier’s occupancy rate for the grew by 45% in the third quarter. Retailer OKZIM trimmed 1.51% to trade at $29.4990 as tea company Tanganda shed 0.52% to $82.9851 while, financial services group CBZ retreated 0.37% to trade at $119.5534. The market closed with a positive breadth as fifteen counters recorded gains against eleven that lost ground as seven remained static at previous prices. Activity aggregates were depressed in Friday’s session as volumes traded plunged 52.07% to 4.50m while, turnover succumbed 59.59% to $323.65m.Volume drivers of the day were Econet, Mashonaland and Delta with a shared contribution of 90.13% to the aggregate. Delta and Econet anchored the value aggregate as they claimed 39.40% and 37.01% of the outturn apiece. The top gainers amongst the ETFs was Old Mutual that climbed 9.50% to $6.0857 followed by Datvest that put on 1.95% to $1.6500. The least gainer was Morgan and Co MCS that improved 1.04% to $20.2079. Padenga rose 2.04% to USD$0.2500 on 250 shares as SeedCo International traded 973 shares at USD$0.3200.