EFE Securities •

2 years ago •

Market Commentary

Market Comment - 22.02.2022

ZSE slips into the red... The market took a breather in the first trading session of the week halting a fourteen-day rising streak. The ZSE All Share Index was 0.45% softer at 15160.05pts while, the Industrial Index let go 0.45% to 50131.36pts. The Mid Cap Index slipped 1.09% to end at 23959.15pts while, the ZSE Top Ten Index retreated 0.26% to 10184.70pts. The market closed with a negative breadth as fallers outnumbered gainers by a count of eight. Star Africa was the major casualty of the day after dropping 7.48% to end at $1.6369, followed by TSL that shed 6.25% to close at $75.0000 as a paltry 300 shares traded. Zimpapers trimmed 5.25% to settle at $2.8667. The duo of ART and FBC lost a similar 3.30% to close at $11.1200 and $30.0102 apiece. NTS was the top gainer of the day on a 4.17% lift to $7.0000, trailed by banking group First Capital that put on 2.76% to $3.9231. Agriculture Equipment manufacturer Zimplow rose 1.85% to $22.4063 as property concern FMP improved 1.76% to $7.5000. Capping the top five winners of the day was Econet that advanced 1.58% to $142.1940 having touched a year to date high of $145.0000 in the session. Activity aggregates were depressed in Tuesday’s session as reflected in volumes that dipped 72.71% to 3.07m while, turnover declined 81.58% to $161.95m. Anchoring the volume aggregate of the day were Tanganda, Econet, Delta, Meikles and Innscor with a combined contribution of 91.60% to the outturn. Star Africa and Tanganda claimed 38.11% and 21.14% of the value aggregate apiece. Foreigners were net sellers in the session as purchases amounted to $103,773.50 while, sales stood at $30,040,264.30. The Old Mutual ETF and the Morgan and Co ETF extended 6.58% and 3.97% to close at respective prices of $9.1566 and $14.5610. A total of 18,343 units worth $207,027.20 exchanged hands in the two ETFs. No trades were recorded on the VFEX.