EFE Securities •

1 year ago •

Market Commentary

Market Comment - 19.09.2022

ZSE retreats further in new week... The market commenced a new week in losses as twenty -one bears charged on five bulls to record a negative breadth of sixteen. The Blue-Chip Index suffered the heaviest knock of 5.21% to end at 5410.90pts while, the mainstream All Share Index trimmed 3.78% to 9982.48pts. The Mid-Cap Index shed 1.31% to 25505.83pts while, the ZSE Agriculture Index let go 1.04% to 64.73pts. Proplastics was the top laggard of the day after dropping 14.99% to close at $15.9500. Trailing was cable manufacturers Cafca that dipped 14.85% to $166.0500 as conglomerate Innscor plunged 14.84% to settle at $166.1603. Fast foods group Simbisa tumbled 14.20% to $99.8707. Axia held the fifth position on the fallers’ table as it retreated 12.96% to $23.2724. Agriculture concern Ariston headlined the risers’ pack on a 6.67% uplift to close at $3.2000 while, brick manufacturer Willdale improved 5.27% to $1.8417. Zimre Holdings Limited put on 4.42% to trade at $4.0000 while, banking group First Capital rose 2.93% to $8.2303. Apparel retailer Truworths completed the winners of the day on a 0.13% loss to $1.9575. Volumes traded surged 53.63% to 3.65m shares as Delta and Axia anchored the aggregate with respective contributions of 37.32% and 27.37%. Turnover garnered 75.63% to $279.16m as Delta and Innscor claimed a combined 77.61% of the outturn. Nickel miner Bindura traded 10,543 shares at a stable price of USD$0.0307. The ETFs traded mixed in the session as the duo of Cass Saddle and MIZ gained 0.56% and 0.09% to close at $1.7900 and $1.2111 apiece. The Old Mutual ETF slumped 7.64% to $3.7095 while, Datvest MCS lost 3.11% to close at $1.4034. Morgan & Co MCS was down 0.21% at $26.5000.