EFE Securities •
2 years ago •
Market Commentary
Market Comment - 21.03.2022
All Share Index rises higher... The All-Share Index gained 4.01% to record its new YTD high of 15467.15pts having breached the 15000pts mark for the second trading session. The Industrial Index went up 3.95% to 51,107.83pts while, the ZSE Top Ten Index rose 3.95% to 10297.30pts as it sailed past the 10000pts mark. The Mid Cap Index ticked up 3.52% to close at 25072.37pts. Mining house RioZim led the winners of the day after surging 19.23% to close at its YTD high of $62.0000, albeit trading scrappy 200 shares. Following was AFDIS that garnered 18.18% to $260.0000 while, Axia advanced 10.91% to end pegged at $66.8311. Property concern FMP soared 7.94% to $7.5556 while, Mashonaland Holdings capped the top five risers of the day after putting on 7.86% to close at $3.0004. On the downside was hotelier African Sun that dropped 9.31% to $5.8041 as apparel retailers Truworths trailed on a 6.17% retreat to $1.5438. Tea company Tanganda slipped 4.11% to end at $85.0000, having traded 24,200 shares while, General Beltings slumped 2.72% to $1.6441. Banking group NMB capped the top five losers’ set after shedding 2.06% to land at $11.7500. Activity aggregates were subdued in Monday’s session as volumes trimmed 20.65% to 4.38m shares while, turnover declined 33.92% to $239.94m. Volume leaders of the day were Mashonaland and Star Africa that claimed 28.30% and 27.41% apiece. Value leaders of the day were heavies in Delta, National Foods, Econet, Ecocash and Innscor with respective contributions of 74.31% to the aggregate. Foreigners were net sellers in the session as sales stood at $57.99m against a nil purchases position. Nickel miner Bindura added 0.18% to settle at $0.0550 as 616,948 shares worth $33,933.3476 were swapped. The Old Mutual ETF and the Datvest Consumer staples ETF inched up 6% and 1.04% to close at respective prices of $7.9141 and $1.6884. The Morgan and Co ETF slumped 0.20% to close at $13.9514. Elsewhere, Delta has introduced a new product called the Sable lager, a move which is expected to increase its product offering to the beverages market.