EFE Securities •

2 years ago •

Market Commentary

Market Comment - 21.01.2022

Delta weighs on the ZSE... The ZSE downtrend persisted into Friday’s session on the back of losses in the market’s top capitalised stock Delta. The mainstream All Share Index let go 0.97% to close at 11324.01pts while, the Industrials slipped 0.98% to end at 37419.29pts. The ZSE Top Ten Index was down 1.52% to 7184. 86pts. Beverages group Delta shed 6.79% to settle at $166.1726 having traded an intraday low $164.0000. Agriculture concern Ariston lost 6% to end at $3.2453 reversing yesterday’s gains while, Proplastics went down 5.17% to $27.5000. Zimre Holdings eased 4.67% to $3.5004. Completing the top five laggards of the day was General Beltings which retreated 4.38% to $1.6041. Partially offsetting today’s losses were gains in TSL that put on 10.96% to $80.0000 trailed by MedTech Class B that rose 6.67% to $32.0000. Turnall advanced 4.94% to $4.2500 while, Mashonaland Holdings added 3.24% to $3.5004. Fast foods group Simbisa capped the top five winners of the day on a 3.21% lift to $125.011 on reports of the firm’s intention to open 40 new outlets by the end of 2022. Gainers of the day outnumbered fallers by a count of four, leaving the market with a negative breadth. Volume of shares traded ballooned 121.82% to 3.32m as Zimre Holdings and Econet anchored the aggregate with respective contributions of 34.47% and 28.50%. Turnover jumped 44.90% to $161.44m as Econet and Delta claimed a shared contribution of 62.22% of the outturn. The Old Mutual ETF grew 1.74% to $6.9192 while, the Morgan and Company ETF slid 0.04% to $13.2000 on 28,817 units. On the VFEX, Padenga closed at a price of USD$0.2100 as 45,944 shares worth USD$9,648,24 exchanged hands. Foreign sales amounted to $8.98m with nil purchases, as Delta was the only counter to be sold. Elsewhere, Econet released a third quarter trading update in which the company reported a growth in data and voice traffic by 43% and 6% in that order .