EFE Securities •

1 year ago •

Market Commentary

Market Comment - 20.09.2022

ZSE weakens further... Weakness on the bourse persisted into Tuesday’s session to see the primary All-Share Index easing a further 1.34% to close at 9848.30pts while, the ZSE Top Ten Index shed 1.50% to 5329.56pts. The ZSE Agriculture Index dropped 4.43% to settle at 61.87pts as the Mid-cap Index gave up 1.12% to 25219.00pts. Hotelier African Sun topped the laggards of the day on a 11.86% loss to $11.2604 while, National Foods Limited declined 9.09% to $1,000.0000. Tobacco company BAT was down 8.44% to $1,790.0000 as banking group CBZ stumbled 6.87% to $139.7000. Brick manufacturer Willdale completed the top five decliners as it trimmed 6.65% to end pegged at $1.7193. Gainers of the day were led by First Mutual Properties which rose 13.33% to $5.1000, trailed by plastic processor Proplastics which advanced 12.85% to $18.0000, albeit on scrappy 100 shares. Axia rose 7.17% to $24.9421 while, telecoms giant Econet added 4.81% to $57.9841. Mashonaland Holdings extended 3.64% to $5.7000 to cap the top five risers of the day. The market registered a negative breadth of nine as sixteen counters lost ground against seven that improved. Activity aggregates were depressed as the volumes traded dipped 63.93% to 1.32m shares while, turnover regressed 66.52% to $93.46m. Axia, Delta, Simbisa, OKZIM and Econet were the top traded counters by volume as they contributed a combined 80.07% of the aggregate. Anchoring the value outturn was Delta, Simbisa and Innscor that claimed 40.68%, 19.95% and 15.73% respectively. On the VFEX, Padenga edged up 4.78% to close at USD$0.3615 on 66,559 shares. A total of 151,771 units exchanged hands in the five ETFs. The Old Mutual and the Datvest ETFs succumbed 5.22% and 1.92% as the duo ended at $3.5158 and $1.3765 apiece. Cass Saddle was 11.73% firmer at $2.0000 as the MIZ ETF ticked up 0.21% to $1.2192. Morgan and Co MCS was stable at $26.5000.