EFE Securities •
2 years ago •
Market Commentary
Market Comment - 20.10.2022
ZSE maintains positive sentiment... The market remained in the positive in Thursday’s session as the All-Share Index rose 0.85% to 14186.15pts while, the heavies Index gained 0.56% to close at 8379.19pts. The Mid-Cap Index was 1.52% higher at 31152.41pts as the ZSE Agriculture index picked up 0.67% to close at 72.50pts. Milk processor Dairibord topped the gainers list on a 15.00% jump to $36.8000 while, hotelier African Sun climbed 10.33% to $20.1900. First Mutual Properties trade at $7.4829 after a 9.02% rise as the bankers duo NMB and ZB Financial Holdings were up 8.30% and 8.08% to finish at $21.3000 and $115.0000 respectively. The day’s laggards were led by Ecocash Holdings that fell 5.35% to $44.9598 while, FBC Holdings lost 3.85% to $50.0000. General Beltings declined 2.13% to $1.8062 as telecoms firm Econet dropped 0.65% to $84.8247 on weakening demand. Agro-industrial entity Ariston completed the top five losers with a marginal 0.50% loss to $3.9501. The market recorded a positive breadth of nine as seventeen counters edged up against eight losers. Activity aggregates weakened to see turnover drop 41.19% to $228.19m while, volumes traded plunged 26.54% to 2.29m shares. Econet and Delta contributed a combined 72.54% of the value traded and 51.84% of the volumes exchanged. Other remaining volume contributors were Star Africa, Masimba and Innscor that scored 16.78%, 8.61% and 3.96% apiece. On the VFEX, three counters slipped, led by Seed-Co International which lost 2.63% to settle at USD$0.37000 as circa 1.02m shares exchanged hands. Bindura dropped 1.67% to US$0.0295 on 110 shares while, Padenga eased 0.71% to US$0.3360 on 260 shares. The ETF traded mixed as a total of 26,928 units traded. The MIZ soared 9.57% to $1.2600, Cass Saddle was up 3.00% to $2.0600, and the Old Mutual ETF increased 2.58% to $5.4110. The two fallers were Datvest and Morgan & Co that succumbed 1.90% and 6.366% to end at $1.7000 and $22.0000 respectively.