EFE Securities •

1 year ago •

Market Commentary

Market Comment - 19.08.2022

ZSE in fifteen-day losing streak... The market faltered for the fifteenth consecutive session as the mainstream All Share Index slipped 0.10% to 14423.98pts. The Agriculture and the Mid-Cap Indices went down 0.40% and 0.86% to 82.46pts and 29774.97pts in that order. Bridgefort Capital was the top laggard of the day on a 15.00% dip to $16.1500. Following was General Beltings that shed 12.50% to $1.3038 while, property concern FMP dropped 12.31% to settle at $6.1385. Axia let go 7.28% to $63.1248 as fintech group Ecocash tumbled 6.76% to $37.1742. The pole position of the gainers’ pack was held by Turnall that surged 14.13% to $4.5700, trailed by apparel retailers Edgars that extended 12.36% to $7.8650. Hotelier RTG put on 8.28% to $8.5000 while, beverages group Delta added a further 4.88% to $250.1980. Brick makers Willdale ticked up 2.35% to $2.0499 as it reversed previous day losses. The market closed with a negative breadth of five as fifteen counters registered losses against ten that gained ground. Activity aggregates were enhanced in Friday’s session as volumes ballooned 248.32% to 11.33m shares while, turnover swelled 185.40% to $670.35m. Volume drivers of the day were Willdale (43.90%), Econet (18.70%), OKZIM (17.43%) and Delta (10.39%). Value outturn was anchored by heavies Delta and Econet that claimed 43.98% and 38.84% respectively. On the VFEX, Bindura improved 0.65% to USD$0.0310 as Padenga grew 1.19% to USD$0.3400. A total of 428,405 shares worth USD$13.510.0000 exchanged hands. Three ETFs faltered in the session with Old Mutual leading the decline on a 11.53% drop to $5.8000. MIZ and Datvest trimmed 4.63% and 1.53% to close at $1.1541 and $1.6044 individually.