EFE Securities •

2 years ago •

Market Commentary

Market Comment- 20.01.2022

Market sinks further... The ZSE sunk further in Thursday’s session as blue chips continued to drag the market resulting in all the indices under our review closing in the red. The primary All-Share Index lost 2.16% to 11435.14pts while, the Industrial Index dropped an almost similar 2.17% to close at 37788.08pts. The Top Ten Index dipped 2.90% to close at 7514.03pts. Fintech group Cassava led the decliners of the day as it eased 7.04% to $51.0400 while, General Beltings slipped 6.35% to $1.6775. Econet shed 6.07% to close at a vwap of $82.0807 as banking group NMB lost 5.54% to $12.6177. Retailers OK Zimbabwe capped the top fallers of the day on a 4.60% slip to $24.9964. Partially mitigating today’s losses were gains in hotelier African Sun that surged 19.14% to $6.9100 while, clothing retailer Edgars was 17.23% firmer at $5.0000. Logistics firm Unifreight rose 7.33% to $28.0000 as agro-industrial entity Ariston grew 4.46% to $3.4524. Seed Co Limited completed the top five winners’ set on a 2.98% rise to $115. 0000. Thirty counters recorded price movements with seventeen decliners against thirteen gainers leaving the market with a negative breadth of four. Volume of shares traded went up 24.63% to 1.5m as turnover enhanced 39.19% to $111.4m. Driving today’s volumes were Cassava, Simbisa and CBZ that claimed a combined 58.36% of the aggregate. Simbisa, Delta, Cassava, CBZ and Innscor contributed 28.72%, 17.21%, 16.01%, 15.71% and 14.96% to the volume outturn respectively. The Old Mutual ETF lost a marginal 0.01% to $6.8011 as 60,311units traded while, the Morgan & Co ETF slid 0.07% to $13.2057 on 11,208 units. Elsewhere, on the VFEX, Padenga traded 4,900 shares at an unchanged price of $USD0.2100.