EFE Securities •

1 year ago •

Market Commentary

Market Comment - 20.07.2022

ZSE continues to lose steam... Losses continued to accumulate on the market as selling pressure persisted across the board. The Primary All share Index lost a further 0.51% to 15959.63pts while, the Top Ten Index slipped 0.96% to 9777.94pts. Contrastingly, the ZSE-Agriculture Index went up 0.11% to 92.22pts while, the Mid-Cap Index advanced 0.51% to 32337.53pts. Innscor headlined the losers of the day on a 4.29% slump to end pegged at $300.0946. The duo of banking groups in NMB and ZB declined 1.96% and 1.57% to settle at respective prices of $24.9500 and $125.0000. Fintech group Ecocash Holdings let go 1.29% to $50.8128. Delta Beverages capped the top five losers list of the day on a 1.21% retreat to end the session at $266.9431. Leading the gainers of the day was ART that 11.11% to $20.0000 as retailer OKZIM put on 2.88% to $29.0046. Hotelier African Sun improved 2.82% to $14.0204 as Zimplow rose 2.02% to $21.0000. Banking group CBZ capped the top five winners of the day on a 1.78% lift to $132.3162. Activity aggregates were depressed as volume of shares traded dipped 72.59% to 6.73m while, turnover went down 85.82% to $649.10m. Ecocash, Econet and OKZIM were the top volume drivers as the trio contributed 49.52%, 20.51% and 7.36% of the outturn respectively. Econet, Ecocash and Innscor contributed a shared 69.90% of the value aggregate. Bindura was the only counter to register a trade on the VFEX as 32,204 shares exchanged hands at a stable price of USD$0.0280. Cass Saddle ETF went up 10.95% to close the day at $1.4718 while, the Morgan & Co MIZ edged up 1.62% to $1.2200. The Datvest ticked up 0.49% to close at $1.6953. The Old Mutual ETF was the sole loser amongst the ETFs after sliding 0.08% to end the session at $8.9900.