EFE Securities •
1 year ago •
Market Commentary
Market Comment - 21.12.2022
Market firms up as Mash Holdings shine... The ZSE registered firm gains in Wednesday’s session to see all benchmark indices in our review closing in the positive. The primary All-Share Index rose 2.11% to 16479.40pts while, the Blue Chips Index had a 2.82% surge to settle at 9998.77pts. The Mid-Cap index went up 0.82% to 34459.96pts as the ZSE Agriculture Index ticked up 0.06% to 71.40pts. Brick manufacturer Willdale topped the gainers’ list on a 8.43% jump to $1.8000, followed by retailer OK Zimbabwe that grew 5.50% to $32.6871. Bankers NMB advanced 4.63% to $35.0000 while, First Mutual Holdings increased 4.51% to $21.9091. Beverages giant Delta Corporation capped the group as it gained 4.26% to close at $310.9479. In the laggards camp, First Mutual Properties led with 3.04% fall to $11.2500 as Proplastics gave up 0.08% to $25.1000.BAT and spirits manufacturer Afdis both lost a similar 0.07% to end at $2796.9474 and $260.0246 respectively.Axia completed the top five losers after shedding 0.05% to close at $100.3195. A block trade in Mashonaland Holdings was the major highlight of the day as it dominated the volume and value section. A total of 4.44m shares (circa) representing 93.48% of the total shares, was traded while in the values the counter contributed 60.60% of the outturn. Other value drivers were Delta (27.54%), Innscor (4.02%), Econet (2.19%) and Axia (1.84%). On the VFEX, Simbisa dropped 1.60% to USD$0.3050 on 107,988 shares. Bindura and Padenga Holdings traded 100 shares and 324,606 shares to both close at a stable price of USD$0.0230 and USD$0.2280 apiece. The ETF had 182,975 units in total that exchanged hands. Morgan MIZ declined 3.97% to $23.0000 while, Datvest took a 2.77% knock to $1.5521. Old Mutual ETF, the only riser, sored 14.65% to end at $6.9091. Foreign trades had a net outflow of $240.65m against a nil purchase position. In other news, Star Africa released its HY23 results for the year ended 30 Sept 2022 in which the refiner recorded a 40% increase in revenue to ZWL$20.80 billion.